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January 29, 2019updated 30 Jan 2019 2:12pm

Wealth tech provider WeInvest forays into North Asia

WeInvest, a digital wealth services provider based in Singapore, has expanded into the North Asia market.

The firm appointed Thomas Tse as its head of sales to spearhead the new initiative.

“Hong Kong and rest of North Asia have very similar considerations to make but there is definitely a growing demand for sophisticated digital wealth solutions. With the many new initiatives such as ‘Belt and Road’, ‘Greater Bay Initiatives’ and ‘Virtual Banking’, there will certainly be a change in the landscape of financial technology,” Tse noted.

Based in Hong Kong, Tse will be responsible for offering digital wealth tools to financial institutions in Hong Kong, China, Taiwan, as well as South Korea.

WeInvest CEO and co-founder Bhaskar Prabhakara said: “We look forward to Thomas being a great addition to the senior leadership team, where he can power the growth of a key market and also bring regional flavours to the WeInvest product portfolio.”

“The total assets in Hong Kong’s asset and wealth management industry reached HK$24.27 trillion at the end of 2017, up from HK$18.2 trillion as compared to the previous year. This pace of growth presents a huge opportunity to bring cutting edge digital wealth solutions to the market.”

Last year, WeInvest raised $12.2m in a Series A funding round.

Investors included British fund manager Schroders, which bought a minority stake in the digital wealth firm.

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