Syfe, an Asia Pacific savings and investment platform, said it would acquire Australian digital broker Selfwealth in an all-cash A$65 million transaction after shareholders approved the deal.
Under the terms, Syfe will pay A$65 million in cash for all Selfwealth shares, subject to court approvals and other conditions expected to be completed on May 7. Selfwealth investors approved the transaction at a meeting held on April 23, per the announcement.
Completion is also contingent on approval by the Supreme Court of Victoria, with a court hearing scheduled for late April. Following completion, Selfwealth will be delisted from the ASX and operate as a private subsidiary with its Melbourne headquarters and management team retained.
Samantha Horton, Syfe’s group chief operating officer and head of international operations, will oversee the integration process.
Selfwealth, founded in 2012, has grown into one of Australia’s largest digital investing platforms, serving a loyal community of retail investors through its flat-fee brokerage model, transparent pricing and a focus on long-term wealth accumulation.
Syfe, established in 2019, operates diversified proprietary portfolios, cash management solutions and brokerage services across more than 60 global markets and has helped hundreds of thousands of customers to grow their wealth using its technology-driven, advice-led platform.
Syfe’s chief executive officer, Dhruv Arora, said the acquisition aligns with the company’s strategy to democratise wealth management and expand its presence in Australia’s “mass affluent” segment.
That segment comprises nearly 12 million individuals with investable assets of at least US$100,000, many of whom still keep their wealth in low-yield savings accounts, Arora noted.
The combined entity will leverage complementary strengths to accelerate product innovation and improve user experience, offering broader access to global market opportunities, cash management features and financial advice.
Syfe said it plans to capitalise on what it called the largest intergenerational wealth transfer in history by providing low-cost, transparent investment solutions.
Selfwealth chief executive Craig Keary said the partnership would enhance the digital investing experience for customers while retaining the core features that built trust over more than a decade.
Keary added that the deal positions Selfwealth to tap into Syfe’s advanced technology and expanded product suite over time.
