StashAway, a digital wealth management startup hailing from Singapore, has completed a $16 million Series C fundraising round
Square Peg, the largest venture capital fund in Australia, led the round, and Burda Principal Investments, the growth capital arm of German media and tech company Hubert Burda Media, as well as existing investor Eight Roads Ventures, the global investment firm backed by Fidelity, also participated.
Founded in 2016, StashAway offers personalised investment and cash management portfolios for both retail and accredited investors. The company employs 85 people and has seen assets under management grow by 4.3X over the past year.
StashAway currently operates in Singapore and Malaysia but plans to broaden its footprint across South East Asia on the back of the new funding.
Michele Ferrario, Co-founder and CEO 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.”