Asia-focused saving and investment platform Syfe has closed a HK$210 million funding round, increasing its valuation and bringing total funds raised to HK$615 million.

The new funding will accelerate development and help Syfe to offer even more innovative new products that cater to the needs of Hong Kong investors.

The all-equity funding round includes new investment from two UK family offices with interests and investments in the fintech and banking sectors, as well as existing investors Valar Ventures and Unbound.

The latest investment has been achieved amid a challenging funding environment, with funding in Asia at its lowest level since 2015.

“Through increased investment in development, we will bring even more innovative new products to market while continuously upgrading the Syfe user experience,” says Dhruv Arora, the platform’s founder and CEO. “ We will also be assessing strategic investment opportunities or acquisition targets aligned with our mission and growth objectives.”