Credit Suisse acquires stake in Singapore wealth aggregation startup Canopy
The startup community in Singapore is internationally recognized as one of the most influential, one of the fastest growing, and one of the most important business communities in the world today – and no sign reflects this attitude more than the amount of outside in foreign direct investment that is pouring into Singapore-based startup companies left and right.
While the United States and Silica and Valley in particular remain the “Gold Standard” as far as international startup communities are considered, Singapore has quickly shot up the ranks and is widely thought to be the biggest contender to Silica and Valley.
Singapore has always had incredibly friendly business forward relations, laws, rules, and regulations to help build and support the Singapore economy, and designs on becoming one of the most influential members of the global community (at least as far as business and finance are concerned), and this kind of attitude has allowed them to enjoy incredible success over the last 20 years or so.
It certainly doesn’t hurt that Singapore also has a tremendous urban development program in place that leverages the latest and greatest technology and infrastructure to support fast-moving businesses, particularly in the financial and technology communities. Hard sciences, math, and the STEM world of education are a big focus in the colleges and universities of Singapore, and business is almost hardcoded into the DNA of Singapore citizens.
Startups are being founded here in Singapore by Singapore citizens and by foreign entrepreneurs and investors at a breakneck pace, allowing startups like Canopy – an amazing wealth aggregation platform that has enjoyed record-breaking success ever since it first opened in 2015 – to command the attention of Singapore-based capitalists and investors as well as those from outside partner nations.
Canopy, at its very core, allows clients to aggregate bankable and non-bankable assets across a whole host of different geographic markets and asset classes while providing instant and “always on demand” updates about the valuation of these assets. This gives clients of Canopy a better picture of their investment portfolio, their assets, and their personal net worth while at the same time helping them to better invest funds moving forward – or to shift assets and capital from one area of their portfolio to another.
One of the world’s largest banks, Credit Suisse, based out of Switzerland has participated in a major initial funding round to provide Canopy with investment and capital it needs to grow exponentially around the world. $3.4 million has been raised by Credit Suisse in this initial “test pilot” trial run, with a commitment to invest even more as part of the Credit Suisse digital private banking solution.
Canopy looks to take advantage of this initial round of investing to not only improve its overall infrastructure in the services that it provides but also to expand its marketing and its advertising reach. This is the kind of startup that is growing beyond Singapore faster than anyone could have expected, becoming a major force and to a major player in the global economy.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Wealth investments paying off for Singapores big three banks, Balancing Work & Life as Business Owner, How to Use LinkedIn for Business and all topics related to growing your business, if you are interested Setting up company in Singapore visit our website for more information.
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