Endowus
“Can a fee-only, conflict-free digital wealth manager become Asia's default platform for both retail retirement money and HNW/institutional capital?”
Founded2017
HQSingapore
FoundersSamuel Rhee, Gregory Van
Total raised$130M+
Latest round$70M (Oct 2025)
IndustryFintech / Investment
The story
Endowus launched in 2017–2019 as Singapore's first digital advisor licensed to invest CPF/SRS retirement monies alongside Cash, anchored by a 100% trailer-fee-rebate model. It has expanded from a retail robo-advisor into a multi-segment wealth platform: HNW/accredited (private markets, hedge funds), institutional/treasury, and corporate benefits/pension. Geographic expansion to Hong Kong (2023) and growth in alternatives have driven AUM past US$10B in 2025.
Product timeline
2017
Endowus founded in Singapore by Samuel Rhee and Gregory Van· founding
2019
Launched as first digital advisor in Singapore covering CPF, SRS, and Cash investments· launch
2023
Expanded to Hong Kong under SFC license· expansion
2024
Raised $35M growth round led by Prosus/UBS/MUFG· funding
2025
Crossed US$10B in client AUM; closed $70M round led by Illuminate Financial· funding
Regulated entities
2
regulatory licences held by Endowus
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Endowus’s embedded-finance stack
Banking / BaaS
UOB Kay Hian (custodian/broker)
Unified APIs
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.