StashAway grows revenue 2.5x, though losses widen

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Hello there,

Remember when robo-advisors were the new shiny thing?

About five years since they’ve launched in this part of the world, robo-advisory platforms have reached the masses. I know many who use it, or plan to. Of course, there are those who prefer tools that offer more control.

That said, while robo-advisory was once praised for being accessible and easy to use, it is increasingly described as lacking in personalization and even outdated.

The platforms themselves do recognize the changing needs (and increasing sophistication) of their investors. StashAway, for instance, lets accredited investors access private equity and VC funds through an offering called StashAway Reserve. Many other platforms are letting clients build customized portfolios.

But StashAway – one of Singapore’s first robo-advisors – has also seen its fair share of controversy. In addition, it underwent layoffs earlier this year.

Perhaps the best measure, however, will always be financials. In this week’s Big Story, my colleague Samreen breaks down the company’s performance in 2021. Revenue grew 150% year on year, albeit off a small base.

Still, Singapore reliably has an increasing concentration of high- and ultra-high-net-worth individuals, who could provide the tailwinds that these players need.

Also financially savvy are those seeking new tools offered by earned-wage access platforms, especially in markets like the Philippines. In our Hot Take this week, I analyze Tonik Digital Bank’s acquisition of TendoPay – a provider of payroll-linked financial services – and why it makes sense for both companies.

– Melissa

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THE BIG STORY

Sequoia-backed StashAway’s revenue grows 2.5x, but losses widen

According to the wealth management firm, the high losses were a result of costs related to its stock option plan.

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THE HOT TAKE

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NEWS YOU SHOULD KNOW

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FYI

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