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Singapore-based digital wealth administration startup StashAway simply raised US$12 million of their Sequence B funding.
The spherical was led by Constancy Worldwide’s funding arm Eight Street Ventures, and joined by returning investor Asia Capital & Advisors.
It brings StashAway’s whole funding to US$20.four million until date.
Based by former Zalora Group CEO Michele Ferrario, Nino Ulsamer and Freddy Lim in 2016, StashAway is a robo-advisor that “delivers automated, personalised portfolio administration to every shopper”.
They make use of a danger administration funding technique that maximises purchasers’ long-term returns, whereas preserving every particular person buyer’s particular danger publicity fixed by way of altering financial cycles.
StashAway launched its service in Singapore in July 2017, and later turned the nation’s first robo-advisor to simply accept the Supplementary Retirement Scheme Fund for investments.
They later expanded to Malaysia in 2018, and now see “tens of 1000’s of individuals [based in] 77 nations” utilizing their service.
The corporate additionally launched its monetary schooling programming, StashAway Academy, that caters to anybody from newcomers to consultants in investing.
With the brand new funds, StashAway plans to speed up their product growth and enter new markets within the area.