StashAway’s Singapore operations turn Ebitda positive in FY2024

[SINGAPORE] Wealth platform StashAway’s Singapore market has turned earnings before tax, interest, depreciation and amortisation (Ebitda) positive in FY2024 ending Dec 31.

On a group level across Singapore, Malaysia, Dubai, Hong Kong and Thailand, Ebitda loss narrowed to S$5.3 million for 2024 from S$8 million in 2023. Revenue for 2024 jumped 36 per cent to S$14.8 million, from S$10.9 million in 2023.

Michele Ferrario, co-founder and chief executive officer of StashAway, said: “This growth has been driven by mostly current customers continuing to invest with us.”