An organisation putting HNW individuals in touch with wealth management providers has secured additional funding to power its expansion in the Asia region.

WEALTH, a Singapore-based online wealth services marketplace for investors, has raised a total of S$1 million ($702,980) in funding to power expansion this year, it said in a statement.

The business piloted in Singapore in 2015 under the name of findaWEALTHMANAGER.com and rebranded in June last year.

The new funds for the operation came from investors including Vulpes Innovative Technologies Investment Company, the seed investors of PropertyGuru, and Privé Holdings, a fintech company. The additional money will allow the firm to bring in new staff and continue expansion into Hong Kong and Malaysia, it said.

WEALTH connects Asia’s high net worth and mass affluent investors to wealth experts and investment opportunities, helping to solve the challenge of finding the type of service that is most suitable for them from an often bewildering and confusing array of options.

“This funding will allow us to develop into a comprehensive wealth services marketplace in Asia,” said Dominic Gamble, founder and chief executive of WEALTH. “We are building a new, one-of-a-kind intelligent profiling and recommendation engine algorithm that will allow investors to not only connect with the best-matched wealth experts, but also be notified in real-time of investment opportunities, where to get the right tax and legal advice for these deals, and the right banking or investment advisor to manage their financial portfolio," he continued.

The target audience of WEALTH ranges from mass affluent individual (with investable wealth of $250,000) to high net worth individuals ($2 million or more) and ultra-high net worth individuals (with $20 million or more).

To date, more than 1,000 wealthy individuals from Asia have used the firm's services, leading to more than $250 million in transactions for its partners, which include private banks, independent asset managers, financial advisors, lawyers, trust specialists and tax advisors.

WEALTH said its partner base will grow beyond traditional wealth services to include alternative investment and luxury partners such as those dealing with property, art, wine, whisky, watches and vintage cars.