Syfe, a leading saving and investment platform in the Asia Pacific, has announced a non-binding offer to acquire Selfwealth, an Australian digital investing platform, for A$65 million. This strategic move is part of Syfe’s plan to enhance its market reach and product offerings in the region. The acquisition, if successful, will integrate Selfwealth’s platform into Syfe’s operations, significantly boosting its footprint in Australia.
The proposed acquisition aligns with Syfe’s growth strategy, which was highlighted during its Series C-1 fundraising round in 2024. Syfe’s founder and CEO, Dhruv Arora, stated, “This acquisition is a testament to the strength of our business, our ambition, and our belief that wealth management should be accessible and innovative.” The company plans to maintain Selfwealth’s current operations while gradually introducing enhancements through Syfe’s technology and expertise.
Selfwealth’s established user base and brand make it a strategic fit for Syfe, promising a seamless transition for customers. The acquisition will allow Selfwealth users to access Syfe’s broader suite of investment products and solutions. Arora added, “Adding Selfwealth to the Syfe ecosystem strengthens our foothold in the market and accelerates our vision of building Asia Pacific’s most comprehensive digital wealth platform.”
Despite market challenges, Syfe has shown resilience, achieving profitability in early 2024 and securing SGD 105 million in funding. The company continues to expand its influence, with over 5% of Singaporean adults using its platform. This acquisition marks another step in Syfe’s mission to lead the wealthtech sector in the Asia Pacific.
