StashAway, a digital wealth management platform, has officially launched in Thailand, which marks a completely new overseas market for the Singapore-headquartered Fintech firm.
StashAway, which mainly offers Robo-advisory services, has already established operations in Dubai, Hong Kong, and Malaysia.
The StashAway platform, currently accessible to Thailand-based consumers, is being regulated by the nation’s Securities and Exchange Commission (SEC).
As reported by Edge Markets, consumers in Thailand are quite interested in investing opportunities overseas in order to diversify their investment portfolios in a more effective manner, however, they can’t gain access to these investment options that easily because of how complex and costly they tend to be, according to Tim Niranvichaiya, MD at StashAway Asset Management (Thailand division).
He further notes that this is “where StashAway can make a significant difference to people’s long-term financial success.” He claims that it “only takes a few minutes to sign up and access globally-diversified, personalized portfolios with one transparent, all-inclusive fee.”
According to reserve bank data, individual consumers residing in Thailand are making substantial investments in overseas assets. However, investors in the country still remain overinvested in local assets when compared to investors based in Hong Kong or Singapore.
StashAway saves customers’ time and effort from having to independently research and manage their funds, and the company brings over 50 years of experience and 30,000 hours of research and stress-testing to their platform, the Fintech firm’s management reveals. They added that the end result is an “intelligent” investing framework and technology that “re-optimizes and rebalances each client’s portfolios with extreme precision, managing risk while navigating them through any economic environment.” This, according to Freddy Lim, Co-founder and Group CIO.
StashAway was launched in 2016 and now manages over $1 billion in total assets. Its supporters reportedly include VC companies Eight Roads Ventures, Sequoia Capital India, and Square Peg.
