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Singapore’s Mesitis secures S$4.05 million in Series A funding

Nurdianah Md Nur | June 8, 2015
The company will use the investment to enhance its Canopy solution and expand its offerings to new markets.

Mesitis, a Singapore financial technology firm focused on the wealth industry, recently announced that it has secured S$4.05 million in Series A funding.

"The investment came entirely from individuals, with the bulk from experienced startup investors including corporate CEOs and entrepreneurs who are Canopy customers, and the balance from employees," said Tanmai Sharma, founder CEO of Mesitis.

According to Mesitis, the funds will be used to improve its offering, Canopy, and bring it to overseas markets such as Hong Kong, Zurich, London and Dubai.

Canopy is a wealth management app that aggregates financial data from multiple banks, currencies, and asset types into a single platform. The app does not require a direct company feed, and can handle data from any source, including PDF statements.  

Launched in late 2014, the platform now handles over S$1.1 billion in assets under reporting, said Mesitis. It is accessible from any device via the web, and now features a notification function that will alert users of any large price movements in assets that they own.

Canopy is offered to high net-worth individuals and single family offices directly, as well as to wealth managers, multiple family offices, trust and fund administrators and private banks who use the platform for their customers.

 

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