London based early stage fintech, 1fs Wealth, has secured the backing of US venture capital firm Singularity Capital, as interest continues to build in its innovative digital wealth platform.
Singularity Capital, based in Arizona, US, was founded by seasoned entrepreneur G.S. Jaggi. Singularity Capital is the venture capital arm of the Jaggi Family Office, and along with its affiliates, has invested over $3bn across the venture capital and real estate industries.
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. The platform’s ability to provide complete visibility and support succession planning, as well as ESG, sustainability and impact, are amongst the key features most valued by the company’s global customer base.
Commenting on the investment, Singularity Capital founder, G.S. Jaggi said: “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. 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.”
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.”
He continued: “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.