StashAway, our portfolio company and Southeast Asia'a largest digital wealth manager today announced that it has raised $25 million in a Series D round. This new round was led by new investor Sequoia Capital India with participation from our India Ventures team and Australia based VC fund, Square Peg.
This funding round will bring StashAway’s total paid-up capital to $61.4 million USD and accelerate investment product and feature developments across its 5 markets. The company will also offer to buy back up to $3 million USD in stock options from its employees and expand its engineering team in Singapore and abroad.
Michele Ferrario, Co-Founder and CEO says, “This vote of confidence by one of the most successful venture capital firms affirms that we’ve been taking the right approach by expanding early into high-opportunity markets, continuing to deepen our product offering, and building a lean and mission-driven team. These steps have translated into rapid AUM growth since our beginning.”
On buying back employee shares and expanding the team, Nino Ulsamer, Co-Founder and CTO adds, “Providing up to $3 million USD in liquidity to our employees helps StashAway attract the best talent; it shows that startups can succeed and be extremely financially rewarding. We want all of our team members to participate in the financial benefits of building a successful company, and our promise to all team members has always been an attractive compensation package that includes a significant amount of stock options in the company. This promise is now starting to materialise financially.”