14 October 2014 (Singapore) – DrWealth.com, an online personal finance company has raised S$800,000 in seed capital from strategic investors and assembled a team of strategic industry advisors to accelerate its growth. In addition, the flagship site enjoys over 100,000 visitors since it’s launch in May this year.
“We will use the funds raised to beef up our team, build even more features including a mobile app to track daily expenses and stock portfolios, and offer more personal finance content to our users. We are also exploring social sharing of portfolios. Our goal is to have a DrWealth.com account for every household in Singapore,” says Mr Calvin Yeo, Managing Director of DrWealth.com
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The S$800K investment round is led by Puffer Ventures, the venture capital unit of PhilipCapital and participated by strategic angel investors from the internet and finance industry. The investors will form a strategic advisory team to help the company accelerates its growth. Strategic angel investors include Ms Huang Shao-Ning (former MD and co-founder of the JobsCentral Group), Ms Michelle Lim (former COO and co-founder of JobsCentral Group) and Wayne Quek (Founder of HomeLoanWhiz).
“DrWealth.com offers for free what was previously only available to high net worth individuals in this region,” says Mr Linus Lim, Advisor of Puffer Ventures. “We believe Singaporeans will find good value in the content and use the software tools to better manage their portfolios and budgets.”
Record site traffic due to rich content and powerful tracking tools
Since its launch in May this year, DrWealth has seen record traffic to its site and over 100,000 visitors have visited over the past 5 months. Many users enjoy the wide variety of current personal finance articles and the convenience afforded by the automated stock portfolio tracking tool.
“DrWealth’s vision is to help Singaporeans better plan their finances via software tools and high quality educational content. DrWealth users don’t just get access to a wide range of content about investments, and personal finances, they are also able to use our software to perform financial health diagnosis, provide gap recommendations, track their net worth, portfolios and budgets. Being able to attract over 100,000 visitors over 5 months validated our belief that there is a strong demand for such a service,” says Mr Yeo.
Check out Dr Wealth’s media coverage here:
- 14 Oct 2014 – e27
- 14 Oct 2014 – Tech in Asia