StashAway

StashAway is an online investment management company headquartered in Singapore. The company was founded in Singapore in 2016 and was the first robo-advisor to obtain a full capital-markets services license (CMS) from the Monetary Authority of Singapore,[1][2] as well as the first digital wealth manager to obtain a digital investment management for fund management from the Securities Commission in Malaysia.[3] It uses economic-regime based asset allocation techniques to reduce risk for retail investors.[4]

StashAway
TypePrivate
IndustryPersonal Finance, Exchange Traded Funds, Finance
Founded2016
FounderMichele Ferrario (CEO)
Freddy Lim (CIO)
Nino Ulsamer (CTO)
Headquarters
Singapore
Subsidiarieswww.stashaway.sg

www.stashaway.my

www.stashaway.ae
Websitewww.stashaway.com

History

StashAway was founded by former Zalora Group's CEO, Michele Ferrario, former MD and Global Head of Derivatives Strategy at Nomura, Freddy Lim, and Nino Ulsamer in 2016.[5][6][7]

In 2017, it was announced that StashAway received a capital-markets license from the Monetary Authority of Singapore.[8][9] StashAway also announced that Sim Hwee Hoon, former chief executive of Morgan Stanley in Singapore, would be joining its advisory committee.[10][11][12] In 2020, Hwee Hoon transitioned to join the Board of Directors as an Independent Non-Executive Director[13]

In 2018, StashAway was named the most mature retail robo-advisor in Singapore.[14]

In October 2018, it announced that it was the first player to obtain a Digital Investment Management License for fund management from the Securities Commission in Malaysia and launched its services to Malaysians in November 2018.[15][16]

As of 2018, StashAway is the only digital wealth manager with a zero-minimum balance in Singapore.[17][18] It claims to be more 'cost-efficient' than other traditional investment services.[19]

In 2020, StashAway was awarded a Technology Pioneer by the World Economic Forum,[20] making it the only digital wealth manager in the region to have been included in the exclusive list.

The company was awarded a Top 10 LinkedIn Startup by LinkedIn in 2020.[21]

In November 2020, it announced that it was the first digital player[22] to obtain an asset management license from the Dubai Financial Services Authority (DFSA)[23] with retail endorsement and launched its services in the Middle East and North Africa (MENA) region.[24]

In January 2021, StashAway is the first digital wealth manager in Southeast Asia[25] and Middle East and North Africa (MENA)[26] to have announced that they are managing more than US$1billion[27] (SGD $ 1.35billion).[28]

Finances

The company has received funding from Eight Roads Ventures,[29] the Venture Capital arm of Fidelity, as well as several prominent family offices across Asia, raising US$20.4 million as of 2019.[30]

In 2020, the company announced its Series C[31] funding round led by Square Peg, the largest venture capital fund in Australia. Burda Principal Investments, the growth capital arm of German media and tech company Hubert Burda Media, as well as existing investor Eight Roads Ventures also participated in the round. The company has raised USD 36.4 million as of 2020.

Products

In addition to its core globally-diversified portfolios, StashAway started offering further financial products.

In September 2019, it announced the launch of an SGX-traded income-generating portfolio that aims to provide investors with an income of 3.75% and capital appreciation of 4.4% annually.[32] The portfolio was listed among the top 10 new funds in Q3 2019 by Citywire Asia.[33]

In November 2019, StashAway launched a cash management portfolio called StashAway Simple that aims to provide customers with a projected annual return of 1.4%.[34][35]

See also

References
  1. Cua, Genevieve. "MAS proposes moves to support growth of robo advisory firms". The Business Times. Retrieved 2018-08-30.
  2. Thomas, Sujin (2018-03-23). "Robo-adviser firm StashAway secures $5.3m Series A funding – and it has plans to expand overseas". Business Insider. Retrieved 2018-08-30.
  3. "StashAway launches robo-advisory services in Malaysia". The Edge Markets. 2018-11-02. Retrieved 2019-12-11.
  4. Haoxiang, Cai. "The robo revolution". The Business Times. Retrieved 2018-08-30.
  5. hermes (2018-07-29). "Investing is a must-and easier than you think". The Straits Times. Retrieved 2018-08-30.
  6. "Ex-Zalora CEO's new fintech startup secures $2.2m funding". www.techinasia.com. Retrieved 2018-08-30.
  7. Finextra (2018-03-22). "Singaporean robo-advisor StashAway secures USD $5.3 million in Series A Funding". Finextra Research. Retrieved 2018-08-30.
  8. "Singapore eyes regulatory changes to help growth of robo-advisors for investors". Nikkei Asian Review. Retrieved 2018-08-30.
  9. "Singapore fintech startup StashAway raises US$2.15M to roll out robo-advisory platform". e27. Retrieved 2018-08-30.
  10. "ex-Morgan Stanley CEO joins StashAway committee; Julius Baer appoints Taiwan head". DealStreetAsia. Retrieved 2018-08-30.
  11. "Ex Morgan Stanley CEO joins robo-advisor". Citywire Asia. Retrieved 2018-08-31.
  12. "Former Private Bank Chief Joins Robo-Advisor". finews.asia. 2017-11-30. Retrieved 2018-08-31.
  13. "Ex-Regional COO of Morgan Stanley Asia Joins Stashaway Board". finews.asia. 2020-06-02. Retrieved 2020-10-23.
  14. Okhonko, Elena (2018-08-30). "Top 4 Robo-advisors In Asia" (PDF). Kaplan University.
  15. "Fintech: Robo-advisors developing a better value proposition". The Edge Markets. 2018-08-10. Retrieved 2018-08-30.
  16. "StashAway launches robo-advisory services in Malaysia". The Edge Markets. 2018-11-02. Retrieved 2019-12-11.
  17. "Robo-advisers a low-cost option for small investors". TODAYonline. Retrieved 2018-08-30.
  18. "8 Ways to Invest S$100 Every Month Effectively". Retrieved 2018-08-30.
  19. "Fintech startup StashAway secures $4.08m funding". Singapore Business Review. Retrieved 2018-08-30.
  20. "StashAway Awarded a Technology Pioneer by The World Economic Forum". finance.yahoo.com. Retrieved 2020-10-23.
  21. "LinkedIn Top Startups 2020: The 10 Singapore startups on the rise". www.linkedin.com. Retrieved 2020-10-23.
  22. "Robo-adviser StashAway expands to UAE". The Business Times. 2020-11-16. Retrieved 2020-12-10.
  23. Business, Arabian (Nov 16, 2020). "Digital wealth manager StashAway first to win DIFC licence". Arabianbusiness.
  24. "Digital wealth manager StashAway enters the UAE to tap affluent investors". The National. Retrieved 2020-12-10.
  25. "StashAway achieves assets under management of over US$1b". The Edge Markets. 2021-01-25. Retrieved 2021-02-02.
  26. "StashAway announces assets under management of US$1billion". www.zawya.com. Retrieved 2021-02-02.
  27. GmbH, finanzen net. "StashAway announces Assets under Management of US$1billion". markets.businessinsider.com. Retrieved 2021-02-02.
  28. Choy, Natalie (2021-01-25). "StashAway crosses US$1b in assets under management". The Business Times. Retrieved 2021-02-02.
  29. "StashAway raises US$12m led by Eight Roads Ventures". The Business Times. 2019-07-29. Retrieved 2019-12-11.
  30. Lee, Jamie. "Ex-Temasek banker emerging as active fintech investor". The Business Times. Retrieved 2018-08-30.
  31. GmbH, finanzen net. "StashAway raises $16 million USD in its Series C funding round led by Square Peg | Markets Insider". markets.businessinsider.com. Retrieved 2020-10-23.
  32. Acosta, Francis Nikolai (2019-09-11). "Singapore robo aims high with income portfolio". Fund Selector Asia. Retrieved 2019-12-11.
  33. "The 10 new funds that stole the spotlight in Q3". Citywire Asia. Retrieved 2019-12-11.
  34. Choy, Natalie (2019-11-18). "StashAway offers portfolio to manage cash". The Business Times. Retrieved 2019-12-11.
  35. "Rain or shine, there's no stopping StashAway". The Business Times. 2019-11-11. Retrieved 2020-10-23.
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