HUB24’s portfolio, administration and reporting services (PARS) FUA was at $18.3 billion, up from $17.8 billion from the September quarter. This was up 97% on pcp.
Other initiatives in the plan include improving financial literacy of retail investors, promoting connectivity opportunities for investment in other countries, and encouraging businesses to move towards sustainability.
Other participants are Jungle Ventures, Granite Oak, FinAccel, Phoenix Holdings (existing investor) and other super angels.
Powered by Avaloq’s core banking system, the wealth management platform will initially be used to serve private banking clients in Hong Kong and Singapore, before scaling to serve onshore Taiwan clientele.
Meritz Fire & Marine Insurance is working with Kakao Pay to develop financial products for people between 30 and 50, with officials at the insurance firm saying the services will kick off as early as this month.