FinTech startup 1fs Wealth has secured the backing of US venture capital firm Singularity Capital.
1fs Wealth’s digital platform supports wealth owners to consolidate all their assets, control risk, create and manage complex corporate structures, facilitate succession planning, assess sustainability and analyse the performance of complex global portfolios.
Singularity Capital, based in Arizona, US, was founded by seasoned entrepreneur G.S. Jaggi. The overall Jaggi Family Office has invested over $3 billion across the venture capital and real estate industries.
“As a venture platform, at Singularity Capital we partner with companies who are leveraging unique competitive solutions – importantly, singling out the most driven and innovative teams, who are doing things better, faster, and more strategically than the competition,” said Jaggi.
“We have been really impressed by the 1fs platform and the strength of the team behind it and look forward to being part of the company’s growth journey.”
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Bobby Console-Verma, CEO, 1fs Wealth, said: “We are delighted to have Singularity Capital on board, as both a client and a valued investor. Interest in our wealth platform continues to grow and we are looking to build on our success to date, to capitalise on all opportunities to support family offices, HNWIs and wealth managers, in markets across the world.
“The 1fs platform itself is constantly evolving to meet the demands of our rapidly expanding customer base, providing a detailed view of their portfolio from the palm of their hand. We are augmenting this with our AI-based engine which allows a wealth owner to glean yet more detailed insights about their assets.”
The investment follows an earlier announcement in December 2022 that 1fs Wealth had secured the backing of finance and technology heavyweight Dominique Cerutti.