Hugo, a Singapore-based digital wealth and financial savings app, introduced that it has raised US$2 million in a seed funding spherical from 1982 Ventures, distinguished household workplaces and angels.
With the brand new funds, Hugo stated that it’ll launch extra options to assist customers optimise their budgeting, financial savings and investing habits to make sure monetary wellbeing.
David Fergusson, Chief Government Officer and Co-Founding father of Hugo said,
“Cash is the most important reason for stress and Covid-19 has solely strengthened how financially unprepared most of us are.
We’re excited to introduce Hugo at a time when monetary wellbeing has change into so related.”
Hugo has a novel function known as the Gold Vault which makes investing in gold straightforward for all. Hugo clients should buy or promote gold for as little as S$0.01.
Gold has at all times been a core funding for the ultra-wealthy and presents security and wealth preservation in instances of inflation and market turmoil.
Hugo’s Gold Vault is backed by bodily gold saved in an accredited LBMA (London Bullion Market Affiliation) vault and insured by Lloyds of London, giving savers the identical protections as massive hedge funds and personal banks.
Herston Powers, Managing Associate, of 1982 Ventures stated,
“Hugo is democratising entry to gold with a low payment product that’s extraordinarily considerate and approachable. Singapore is an ideal market to launch the subsequent era of digital banking and wealth options.
Singapore is an ideal market to launch the subsequent era of digital banking and wealth options.”