MUFG Innovation Partners invested in Endowus Technologies Pte. Ltd.
August 8th, 2023. MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), has recently invested in Endowus Technologies Pte. Ltd. (Endowus).
Founded in 2017, Endowus is Asia’s leading independent digital wealth platform that guarantees transparency in fees and neutrality. Endowus provides their customers a variety of product services tailored to the user’s preferences and investment goals, including fully entrusted long-term investment products, deposit-based low-risk products, and highly personalized digital advisory. It is the first digital wealth platform to be integrated with Singapore’s public pension fund, which serves as a source of investment funds in addition to cash. They also raise users’ literacy on long term wealth and asset building through free online educational contents and launched a similar digital wealth service in Hong Kong in 2023.
Asia has a young and growing population, with the number of high net worth and affluent individuals projected to grow in the next decade. Endowus’ digital advisory solution appeals to this digitally-savvy population segment. Through the investment in Endowus, MUIP will explore the possibility of various forms of collaboration with MUFG’s four Southeast Asian partner banks and their users to provide them access to transparent and personalized digital wealth experience.
MUIP was established in January 2019 as the corporate venture capital of Japan’s leading financial group, MUFG, to promote its open innovation strategy.
MUIP currently runs 3 funds (about 450 million USD in total), working on strategic investments in startups globally and driving business collaboration between the startups and MUFG group companies.
For more information, visit https://www.ip.mufg.jp/.
Founded in 2017, Endowus is Asia’s leading independent digital wealth platform. With entities licensed by the Monetary Authority of Singapore, and Securities and Futures Commission of Hong Kong, Endowus is the first digital advisor in the region to span personal savings, private wealth and public pension (CPF & SRS in Singapore), helping investors grow their money with expert advice and access to institutional financial solutions at low and fair fees, through a personalized digital wealth experience.
Endowus’ leadership and growth have been recognized by the industry and it has attained numerous awards including, Singapore’s Best Digital Wealth Management, CEO of the Year (Asia Asset Management’s Best of the Best Awards 2023), Singapore’s Best Digital Wealth Management Experience (The Asset Triple A Digital Awards 2023), and Startup of the Year and WealthTech of the Year (Asia FinTech Awards 2022). Endowus is also among the firms named in the World Economic Forum’s Technology Pioneers 2023, Forbes’ “100 to Watch” list for 2022 and LinkedIn Top Start-ups 2022.
The Endowus Group comprises Endowus’ licensed companies in Singapore and Hong Kong, as well as Hong Kong-based Carret Private. Endowus Group serves over a hundred thousand clients with content, advice and access. With group assets of over S$6 billion it is one of the largest independent wealth managers in Asia. From a combination of 100% trailer fees rebates as direct cashback to clients, savings from the access to institutional share class and exclusive funds, Endowus has created more than S$25 million in savings for its clients. For more information, visit https://endowus.com/