Neobank StashFin raises USD 270 mln

Wednesday 22 June 2022 14:40 CET | News

Singapore-based neobanking startup StashFin has raised USD 70 million in equity funding led by Uncorrelated Ventures and around USD 200 million in debt through Fasanara Capital, with participation from Abstract Ventures.

Existing investors Altara Ventures, Kravis Investment Partners, and Snow Leopard also participated in the funding round. The latest round takes the company’s total funding to around USD 325 million since its inception in 2016.

StashFin plans to use the funds to expand its footprint in South and Southeast Asia and upgrade its technology for new products. The company said it is looking to ramp up hiring in technology and data sciences.

The round values it at around USD 800 million, according to Economic Times.

In the past 12 months, StashFin said it had registered a ten-fold growth in monthly business and is currently nearing an annualised revenue run rate (ARR) of USD 100 million. Around 80% of its revenue comes from India, while the rest is from Singapore.

StashFin also offers customised solutions powered by its homegrown artificial intelligence (AI) technology. It recently launched a credit line card for women that aims to provide greater financial freedom. Its cards allow users to avail of instant credit and transact across channels, including ATM withdrawals.

The company is also planning to launch a new product line in the insurance space.

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Keywords: neobanks, startup, funding, expansion, data
Categories: Banking & Fintech
Companies: StashFin
Countries: India, Singapore
This article is part of category

Banking & Fintech


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