Fintech company Syfe introduces a new cash management solution in the digital sphere

In a move to revolutionise the savings landscape in Singapore, digital wealth management company Syfe has introduced a new cash management product called Syfe Cash+. This innovative solution aims to help Singaporeans grow their savings while maintaining full access to their funds.

Syfe, licensed by the Monetary Authority of Singapore (MAS) under a Capital Markets Services (CMS) License, has partnered with Lion Global Investors, a leading asset manager in South East Asia, to construct the Syfe Cash+ portfolio.

Unlike traditional savings accounts and fixed deposits, Syfe Cash+ offers daily accrual of returns. The projected rate of return for Syfe Cash+ is 1.75% per annum on any amount, with no qualifying criteria. This means that it may be more cost-efficient to grow savings with Cash+ as compared to purchasing these funds directly.

The Syfe Cash+ portfolio holds three funds: the LionGlobal SGD Money Market Fund, the LionGlobal SGD Enhanced Liquidity Fund, and the LionGlobal Short Duration Bond Fund. These funds hold low-risk, short-term debt instruments issued by high-quality issuers such as the Singapore government or corporations with high credit ratings.

Dhruv Arora, Founder and CEO of Syfe, expressed his excitement about the launch of Syfe Cash+, stating, "We are thrilled to introduce Syfe Cash+ to the Singapore market. In a volatile economic environment, Syfe Cash+ offers an alternative to traditional bank accounts, providing steady savings growth."

Syfe was founded in 2017 and publicly launched in July 2019. The company raised SG$ 25.2 million during its Series A funding round in September last year, led by fintech venture capital fund Valar Ventures. Despite the success of this round, the specific investor who deployed these funds is not identified in the available search results.

The launch of Syfe Cash+ comes at a time when the COVID-19 pandemic has triggered a wave of reduced interest rates that have hurt consumers and savers. Syfe Cash+, with its promise of steady returns, could provide a much-needed solution for those seeking to grow their savings in these challenging times.

With no lock-up period or limits for Syfe Cash+, investors have the flexibility to access their funds at any time. This feature, coupled with the daily accrual of returns, makes Syfe Cash+ an attractive option for those looking to manage their savings effectively.

In summary, Syfe Cash+ is a groundbreaking cash management product that offers Singaporeans the opportunity to grow their savings while maintaining full access to their funds. With its partnership with Lion Global Investors, Syfe Cash+ promises steady returns and low risk, making it an attractive alternative to traditional bank accounts, especially in these economically volatile times.

Fintech company Syfe introduces a new cash management solution in the digital sphere