Wealth management marketplace raises funding to connect rich people to more opportunities

Photo credit: Wealth.

Finance management marketplace Wealth is a little, er, wealthier today with a fundraise of US$705,000, according to the startup. The funding comes from investment firm Vulpes and fintech company Privé Holdings, as well as two other investors who are not named.

Singapore-based Wealth helps high-net-worth individuals seek out wealth management experts and investment opportunities. The software matches users’ needs and preferences to the right wealth services providers, including private banks, financial advisors, lawyers, tax advisors, and more. Wealth’s users range from people who have investable wealth of US$250,000 to “ultra-high-net-worth” people with more than US$20 million. Its average user has US$7 million.

The startup claims that since its launch in 2015, more than 1,000 people have used its service, generating transactions of more than US$250 million.

Wealth will increase its presence in Southeast Asia through new offices in Hong Kong and Malaysia.

Wealth will use the funding to build up its tech capabilities. Planned features include a recommendation and notification system for users, alerting them to opportunities and professionals they haven’t previously searched for but match their profiles. The company will also expand its services to alternative investments like property, art, vintage cars, and other luxury propositions.

The startup’s editorial team is in for a boost as well. It will produce content for the company in the form of investment news, wealth advice, and insights from industry experts.

Finally, Wealth will increase its presence in Southeast Asia through new offices in Hong Kong and Malaysia and attract users from other countries to its online platform.

Wealth was previously known as “findawealthmanager.com”. It rebranded in June 2016 and saw a 400 percent year-on-year growth.

Converted from Singapore dollars. US$1 = S$1.42