Xavier Kong · · 1 min readSequoia backs SG wealth management platform
StashAway, a Singapore-based wealth management platform, has raised an undisclosed amount of new funding that includes a strategic investment from Hamilton Lane.
The fundraising also saw Eight Roads, Square Peg, and Sequoia Capital come in as follow-on investors, StashAway told Tech In Asia. VentureCap Insights pegged the amount raised at US$12.6 million.
StashAway co-founders (from left): Nino Ulsamer, CEO Michele Ferrario, and Freddy Lim / Photo credit: StashAway
“The partnership with Hamilton Lane will give StashAway access to strategic advice on both private markets investment methodology and product development,” a StashAway spokesperson said.
StashAway was co-founded in 2016 by Michele Ferrario, former Zalora CEO; Freddy Lim, ex-Nomura global head of derivatives strategy; and Nino Ulsamer, co-founder of Divvit. The robo-advisor firm had cut 14% of its staff in June, following a restructuring.
See also: An insurtech revolution brews in Indonesia and StashAway’s latest brouhaha
Editing by Miguel Cordon and Arpit Nayak
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