Digital wealth platform Arta Finance has launched to accredited investors in Singapore and to international investors managing their wealth in Singapore. The move comes after Arta first launched in Silicon Valley in October 2023, where it has since grown to manage hundreds of millions of US dollars in assets for thousands of clients.
Singapore is expected to see 1.6 million non-Singaporeans are expected to manage $4.8 trillion in assets by 2028.
Arta’s wealth platform offers private investments from fund managers, public market strategies, and structured products, and has also launched an artificial intelligence (AI) copilot, built for wealth management and finance which use large language models (LLMs).
Singapore minister of state for trade and industry and MAS board member, Alvin Tan helped launch Arta in the Lion City, alongside investors, fund managers, partners, and clients. The company’s employees work across engineering, marketing, product, design and operations.
FinanceAsia understands that Arta employs around 110 people, with 55 people in Silicon Valley and 50 people in Singapore.
Commenting on the launch, Arta CEO Caesar Sengupta, said: “Arta is at the intersection of some powerful trends, including the personalisation and democratisation of wealth management, the huge growth and opportunity in private market investing, and the use of AI to create capabilities that have previously only been the preserve of the ultra-wealthy.”
Expanding into the Middle East, Abu Dhabi’s Wio Invest, an affiliate of Dubai-headquartered Wio Bank, is set to integrate Arta's wealth-as-a-service platform into Wio’s digital investment platform, to create wealth management offering for its clients in the Middle East, subject to regulatory approval.
The ‘wealth-as-a-service’ platform for banks was created with support from the venture building team of the Singapore Economic Development Board (EDB), which has invested an undisclosed amount into Arta. Speaking to FA from Singapore, Sengupta said he hoped to sign many more such partnerships soon.
Arta is partnering with Google Cloud and Capco to help integrate with banks.
Amanda Ong, Arta Finance's Singapore country director and head of international expansion, said in a statement: "The launch of the B2B business is an extension of Arta’s mission, enabling us to partner with banks and financial institutions in a way that is wholly complementary to their current offering."
Meanwhile Ralph Hamers has joined the firm as an external senior advisor, providing strategic guidance as the company grows internationally. Hamers is a former CEO with UBS and ING, and joins over 140 technology and finance leaders as investors, including ex-Google CEO Eric Schmidt and Mastercard CEO Michael Miebach.
Hamers said: “A central focus of my leadership has been to take legacy businesses and digitalise, integrating front-to-back technology to drive efficiencies and make the lives of clients and colleagues easier. This often needs major and multi-year transformations in well-established organisations.”
