Singapore Robo-Advisor StashAway Secures $16 million Through Series C Funding Round Led By Square Peg

StashAway, a company that claims to be the first robo-adviser to receive a retail license in Singapore, announced on Monday it secured $22.3 million SGD ($16 million USD) Series C fundraising round led by Square Peg. This investment round comes one year after StashAway raised $12 million through its Series B funding round.

Founded in 2016, StashAway describes itself as a digital wealth manager that intelligently navigates macroeconomic data, not the market ups and downs. The company personalizes financial planning and portfolio management for the vast range of needs of retail and accredited investors alike.

“Our proprietary investment strategy, ERAA (Economic Regime-based Asset Allocation) uses macroeconomic data to maintain each investors’​ personal risk preferences through any economic environment. ERAA’s intelligent asset allocation approach minimises risk and maximises returns by reading thousands of data points to determine current and upcoming economic environments, navigating economic uncertainty, and seeking asset class valuation gaps.”

Speaking about the investment round, Michele Ferrario, Co-Founder and CEO of StashAway stated that the round brings the company’s paid-up capital to $50.7 million SGD.

“In this round, Square Peg, the largest venture capital fund in Australia, led the round, and Burda Principal Investments, the growth capital arm of German media and tech company Hubert Burda Media, as well as previous investor Eight Roads Ventures, the global investment firm backed by Fidelity and early investor in Alibaba, both also participated in the round.”

Square Peg’s Partner, Tushar Roy, will be joining StashAway’s board. He brings more than 20 years of experience investing and consulting across industries and geographies. The company is planning to use the investment round’s funds to continue its growth and development.

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