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July 17, 2019

VinaCapital buys Singapore’s robo-advisory platform Smartly

VinaCapital, an investment management firm based in Vietnam, has snapped up Singaporean robo-advisory platform Smartly for an undisclosed sum.

Smartly leverages algorithms to simplify the investment process, evaluating investors’ risk tolerance and goals through a questionnaire.

Depending on the questionnaire, the robo-adviser recommends a portfolio that can be rebalanced on a periodic basis using algorithms.

Smartly started talks with VinaCapital’s Singapore unit VCG Partners in 2016 over forming a partnership to support its launch.

The platform was ultimately launched in September 2017 after the tie-up.

VCG Partners CEO Jason Ng said: “Smartly has been a trailblazer in robo-advisory services in Singapore, and we look forward to building on the momentum and expanding to other Southeast Asian markets as their regulatory environments allow.

“For example, in Vietnam, current laws do not address robo-advisory services, creating significant risks for investors who elect to invest with some of the start-ups in the market that claim to offer such services.”

As part of the latest deal, Smartly co-founder Keir Veskivali will remain as a consultant.

The firm’s other founders Artur Luhaaar and Kentwell Kwok will pursue other projects.

Veskivali noted that the deal will allow Smartly to scale-up and also support the platform’s expansion into new markets.

 

 

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