Endowus.com says it has become the fastest-growing digital wealth platform in Singapore after crossing S$1 billion (US$742.45 million) in assets under advice (AUA) within 20 months since its full-service launch.

The startup has also raised S$30 million in strategic and venture capital from UBS, Samsung, Singtel Innov8, LightSpeed Venture Partners, and SoftBank Ventures Asia.

According to Endowus, its mobile platform allows individuals to invest their private cash as well as Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) savings by providing access to optimized portfolios and best-in-class funds at low cost.

Despite the Covid-induced market volatility, client assets grew more than 670% over the 12 months to June 30. The number of clients investing on Endowus grew by almost 1,000% in the same period.

“Adoption of our digital wealth services has been encouraging and far-reaching. Today, our clients range from the age of 21 to over 90, with invested balances ranging from S$1,000 to millions,” Endowus chief executive officer Gregory Van says.

Over the last year, the company’s portfolio of 60% global equities and 40% global bonds achieved a 20% return, with global equities returning more than 30%.