Dhruv Arora grew up in India, where his mother advised him to keep money in the bank. In 2008 he joined UBS as an investment banker in Hong Kong. There he saw that highly paid professionals left money idle.
Syfe was incorporated in Singapore in 2017 and launched in July 2019. It offered portfolios of low-cost funds, with advisers on hand to talk to clients. Covid hit a few months after launch, and retail investing rose.
In September 2020 Valar Ventures led an $18.6 million round. In August 2024 Syfe raised a $27 million Series C1, and a second tranche followed in 2025.
In April 2025 Syfe bought the Australian broker Selfwealth for A$65 million. By 2025 it held about $10 billion in client assets, and the company says it turned profitable in the fourth quarter of 2025.