Looking to grow your emergency cash funds, short-term savings or Supplementary Retirement Scheme (SRS) funds but prefer an alternative that has minimal risks and is highly accessible? Cash management accounts in Singapore may be the ideal solution for you since they are high in liquidity, low risk and do not impose lock-in periods. If you are new to cash management.
Digital Wealth Management Fintech Syfe Secures SGD 40M via Series B led by Valar Ventures
Singapore-based
Syfe, a digital or online wealth management company, has secured SGD 40 million through a Series B round.
Syfe‘s investment round has been led by US-headquartered
Valar Ventures, the VC fund co-founded by
Peter Thiel, which led Syfe’s Series A round and was the VC’s first investment in an Asian Fintech firm. Existing investors
Presight Capital and
Unbound also took part in the round.
This latest fundraise has been announced only 9 months after Syfe finalized its Series A in September 2020. Syfe has now secured a total of SGD 70.7 million (appr. $52.6 million) in capital since it launched operations back in 2019. The company has tripled its valuation following the raise.
Underlying funds risk profile comparison
Before we start, it is important for you to know more about the difference in the risk of the cash management products these funds invest in from cash funds, money market funds (MMF) to short-duration bond funds.
An important thing to note is that these cash management accounts are investment products, which means your capital is not guaranteed by Singapore Deposit Insurance Corporation (SDIC).
In the fund space, cash funds are the safest asset class amongst these three funds. For this asset class, the fund generally invests in a diversified portfolio safe institutional bank fixed deposits and treasury bills. the cash fund has the lowest downside risk compared to the other two funds.