Our India & Southeast Asia portoflio company StashAway, Southeast Asia’s largest and fastest-growing digital wealth manager for both retail and accredited investors, today announced that it has completed a USD16 million Series C fundraising round. Square Peg, led the round with participation from and Burda Principal Investments and existing investor Eight Roads Ventures.
Michele Ferrario, Co-founder and CEO of StashAway says, “This new round of financing further strengthens StashAway’s balance sheet position, bringing our paid-up capital to $50.7 million SGD. This latest round will enable us to accelerate product development to both broaden and deepen our wealth management offering for our clients in Singapore and Malaysia, as well as support new market entry.”
Eight Roads Ventures has participated in this round after leading its $12 million USD Series B in 2019. “The strong customer value proposition and StashAway’s stellar execution has been demonstrated by its rapid growth. Its AUM has grown over 4.3X in the last year alone in an extremely volatile market. We continue to remain very excited about StashAway’s pioneering efforts in developing digital wealth management offerings in the region.” said Raj Dugar, Managing Partner India & Southeast Asia at Eight Roads Ventures, who sits on StashAway’s Board of Directors.
Read the press coverage here