StashFin, the neobanking startup based in Singapore, has announced that it has completed Series B extension round. In the round, it raised $40 million from new investors Altara Ventures and Uncorrelated Venture. Previous investments had come from Integrated Capital, Kravis Investment Partners, Saison Capital and Tencent Cloud Europe BV. Existing investors Alto Partners, Snow Leopard Ventures and Positive Moves also participated in the round.
Neobanking is a $1 trillion market opportunity in South Asia. StashFin could be a promising player in this space in the Asian market in near future. The company was founded in 2016, and offers an innovative Credit Line Card in partnership with VISA that permits customers to access their credit facility with easy monthly installments and zero annual fees. It has been ranked as one of the best startups to work for by LinkedIn.
StashFin is going to use the fresh funding to expand across South Asia and grow in its existing markets and strengthen its customer platform for local languages. “South Asia is on the cusp of a financial revolution. Our mission is to use technology to enable frictionless banking and services. We are excited to join hands with our new equity partners to pursue this neobanking mission and grateful for the continued support from our existing investors. During these difficult times, most aspiring consumers can avail the credit line to study further or serve immediate family needs for health and everyday consumption,” said Tushar Aggarwal, Founder & CEO of StashFin.
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