Arta Finance, a US-registered investment advisor that describes itself as a digital family office, has received approval to officially launch in Singapore, according to a company release.
The approval from the Monetary Authority of Singapore (MAS) allows Arta Finance to open its platform for Singaporean residents and foreigners investing through Singapore later this year, said its co-founder and CEO Caesar Sengupta.
“The Singapore market is incredibly attractive and rapidly growing, making it an ideal location for Arta Finance’s expansion,” Sengupta told DealStreetAsia.
Arta Finance, which emerged from stealth mode in 2022, 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.
Using AI, the firm’s platform provides investors access to alternative investments, including private equity, venture capital, and real estate. While in stealth mode, Arta Finance raised over $90 million from Peak XV (formerly Sequoia Capital India & SEA), Ribbit, and Coatue.
It also counts well-known tech and finance leaders as early angel investors, including names like former Google CEO Eric Schmidt; Betsy Cohen, the founder and former CEO of The Bancorp; and Ram Shriram, a founding board member and one of the first investors in Google.
Sengupta said the launch in Singapore comes as the city-state has emerged as a new capital of global wealth and financial innovation.
The shift, he added, is fueled by Singapore’s strategic geographical location, business-friendly regulatory environment, and its role as a focal point for Asian finance.
“One interesting difference between Singapore and the US is that the financial wealth held in cash is dramatically higher in Singapore than in North America – 39% vs. 13.6%,” Sengupta pointed out.
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, he 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 said.
To protect members’ financial data, Sengupta stressed that Arta Finance employs passwordless multi-factor authentication, including biometrics. Member assets are also securely stored with banking major BNY | Pershing.
Since it emerged from stealth in 2022, Arta Finance acquired MoneyMinx.com, a financial aggregator and dashboard with a presence in Europe and the US. It also set up the Arta Foundation with 2% of its founding equity and received capital from major luminaries.
