“Launching Moomoo in Singapore was a leap of faith that tested everything I’d learned in my years in finance.” – Gavin Chia
Gavin Chia was a figure of assuredness at August’s Moofest24, the digital brokerage’s largest community event of the year. During his keynote speech, the audience was treated to some impressive numbers. Such as how one in three adult Singaporeans use Moomoo as their preferred investment platform. And how eight out of 10 of these investors reported profitable yields for the first half of 2024.
We imagine that Chia’s emotions were perhaps a bit more volatile three years ago. Recalling the day he launched Moomoo in 2021—three years after the company was founded in the US—Chia says it was a moment that “tested everything” that he had learnt from his 17 years of experience in the finance industry.
“The weight of the moment hit me,” he says. “I realised this wasn’t just about building a successful company. It was about transforming how Singaporeans interact with their finances.”
To that end, it certainly appears that Chia and his team have passed with flying colours. Known for its proprietary technology that makes it effortless for retail investors to research, analyse, strategise and review their investments, Moomoo Singapore was named the Best Retail Broker in Singapore by the Securities Investors Association (Singapore) in 2023, among other accolades. The brokerage also recently launched a new platform to address the needs of high-net worth investors, offering personalised strategies, exclusive products, and advisory services.
And just as much as he takes pride in “democratising financial knowledge” by putting the means and power of financial growth in the hands of the people through his work, Chia, too, believes that he has learned plenty from his journey.
“Starting Moomoo Singapore from scratch has taught me invaluable lessons about resilience, innovation, and leadership that you simply can’t learn from a textbook or a conventional job,” he says.
Where do you think the digital brokerage industry is headed in the next five years?
I anticipate artificial intelligence and machine learning technologies to become even more sophisticated, offering hyper-personalised investment recommendations and risk assessments. We’re also seeing a shift towards more diverse investment options. For instance, we recently introduced U.S. Treasuries and Japanese stocks to our platform, and we’ve also launched crypto trading on our platform.
Finally, the line between traditional banking and digital brokerages will likely blur further. I expect more digital brokerages will offer banking-adjacent services to provide a more comprehensive financial ecosystem for users.
What about challenges?
Instead of basic trading platforms, investors today are seeking advanced analytical tools, access to different financial products, and more nuanced market insights. To meet these expectations, we must remain in a constant state of learning and innovation; this helps us stay ahead of market trends, understand complex financial instruments, and anticipate future demands.
What professional achievement are you the most proud of?
That would be turning Moomoo Singapore into a net profit operation in slightly over three years. This milestone is a testament to our team’s hard work, innovative approach, and our commitment to meeting the needs of our investors. We knew we were entering a competitive market when we launched Moomoo. Our goal was to transform the online trading landscape, but achieving profitability in such a short time frame in the fintech industry is no small feat.
How do you balance work and personal life?
My family is my anchor. We have regular dinners where phones are off-limits, and weekends are dedicated to family time. I make it a point to attend my children’s key events, even if it means rescheduling meetings. This connection keeps me grounded and reminds me why I’m building this company–to create a better future for families like mine.
Photography by Franz Navarrete / Hair & Makeup by Greg’O
