(From left) Tunku Zain Al-‘Abidin Tuanku Muhriz and Ali Abdul Kadir with Cashku co-founders Raevendren Ramachandran and Asgari Stephens. (Cashku pic)
PETALING JAYA: Cashku, Malaysia’s first end-to-end digital financial planning platform, has raised RM10 million from a group of investors to expand its services nationwide.
Cashku said the funds will be used to scale up its platform, which allows Malaysians to consolidate unit trust portfolios, managed funds and retirement plans, while offering digital advisory services, goal-setting and execution.
Among those who responded to the latest investment round are Tunku Zain Al-‘Abidin Tuanku Muhriz, former Securities Commission chairman Ali Abdul Kadir, 1337 Ventures and private equity professionals from the UK.
“Their belief in our mission strengthens our resolve to bring financial planning to every Malaysian — regardless of their income level or financial literacy,” Cashku co-founder and CEO Raevendren Ramachandran said.
“Our mission is to ensure every Malaysian has a financial plan in place and help them execute it, thereby empowering them on the path to financial freedom.
“This strategic support enables us to enhance our technology, scale our outreach, and continue building a trusted, adviser-led platform for financial empowerment.”
Cashku highlighted a growing momentum in the digital wealth sector, noting Japan’s MUFG Bank this year acquired robo-advisory platform WealthNavi for about US$660 million, a deal valued at around 8% of its US$8.7 billion assets under management.
The company said it now plans to deepen its product capabilities, broaden nationwide access, and pursue partnerships ahead of a Series A investment round.