Arta Finance, a US-registered investment advisor that describes itself as a digital family office, has announced securing a strategic investment from EDBI, the corporate venture capital arm of the Singapore Economic Development Board.
The fintech company said EDBI’s investment, the amount of which was not disclosed, will support the growth and development of its wealth platform in Singapore and international markets.
The funding announcement comes barely two months after Arta Finance received approval to launch in Singapore, allowing it to open its platform for Singaporean residents and foreigners investing through Singapore later this year.
Arta Finance was established in 2021 as Arbo Works and built by eight co-founders — all former Google executives — who have led and managed major fintech products at Google, including Next Billion Users and ChromeOS.
The investment adds EDBI to Arta Finance’s list of global investors, which includes early-stage venture capital firm Peak XV Partners, fintech-focused venture investor Ribbit Capital, and New York-based tech investor Coatue Management.
“Their guidance has been instrumental in helping us bring Arta’s offering to life. We are excited to welcome EDBI as an investor in Arta, further solidifying our vision to scale our platform globally,” said Caesar Sengupta, the Singapore-based CEO of Arta Finance.
Arta Finance emerged from stealth mode in November 2022 and raised over $90 million from Sequoia Capital India, Ribbit Capital, Coatue Management, and over 140 prominent angels.
Thereafter, it acquired MoneyMinx.com, a financial aggregator and dashboard with a presence in Europe and the US, and also set up the Arta Foundation with 2% of its founding equity and received capital from major luminaries.
By 2028, more than 530,000 accredited investors are expected to be in Singapore and about 1.6 million non-Singapore accredited investors will book their wealth through the city-state, Sengupta added.
Arta has already seen significant interest in access to alternative investments since these asset classes have traditionally been exclusively the domain of the ultrawealthy.
“We expect similar interest in these asset classes among Singapore-based investors,” Sengupta earlier said.
