Digital wealth platform Arta Finance has received an undisclosed amount of funding from Singapore’s Economic Development Board Investment (EDBI) ahead of its plans to expand internationally, according to a release dated Sept 11.
Arta, which is headquartered in both the US and Singapore, provides financial tools and products of the ultra-wealthy to a larger cohort of people. Founded by former Google executives, Arta creates personalised investment strategies for its users, using artificial intelligence, technology infrastructure and customised support, the release notes.
However, the digital wealth platform is currently only operational in the US, and will be made available in Singapore later this year.
EDBI, the strategic investment arm of EDB and a division under SG Growth Capital, has participated in the investment round together with other global investors such as Peak XV, Ribbit Capital and Coatue.
The release notes that this investment not only supports Arta Finance in developing its platform and scaling growth, but also develops a venture-building ecosystem.
Caeser Sengputa, CEO of Arta Finance, says that EDBI's investment is a step in the right direction. "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. Together, we are committed to creating a wealth management platform that sets new standards in the industry," he says.
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Paul Ng, CEO of EDBI, says: “Arta’s decision to establish its global headquarters and develop an AI-enabled fintech platform in Singapore underscores the country’s robust innovation ecosystem and advanced digital infrastructure, making it a prime destination for global founders to scale their businesses. The company is a valuable addition to our ecosystem and is set to create exciting job opportunities.”
