Fintech start-up nsave bags $18m Series A funding, launches new investment offering
Swiss fintech start-up nsave has secured an $18 million funding round led by US venture capital firm TQ Ventures.
Nsave bags $18 million Series A
The round, which also saw contributions from ACE Ventures, Proton Foundation, Sequoia Capital, and Y Combinator, builds on the firm’s $4 million seed funding round secured in March 2024.
Founded in 2022 by Amer Baroudi and Abdallah AbuHashem, nsave offers international foreign currency accounts in euros, US dollars, or sterling for individuals from countries facing economic instability or high inflation.
In particular, the fintech says it aims to support young professionals who struggle to access traditional financial services after moving abroad, often due to “exclusionary and outdated compliance processes due to their country of birth”.
“We believe your passport shouldn’t determine your path to prosperity,” says nsave CEO Amer Baroudi. “Our compliance-by-design approach enables us to offer services safely to many more people.”
Alongside its new funding, the company has also unveiled its new investment product, which will give its app users access to ETFs and US equities. The company also plans to offer access to funds managed by “some of the world’s largest asset managers” in the near future.
On the launch, Baroudi states: “Our vision is to go beyond just protecting everyday people’s wealth by enabling safe and compliant accounts abroad, but to enable them to grow it, too.”
Moving forward, nsave is set to roll out more products in the near future, as detailed on its website, including local cash payout services and personalised wealth management solutions like smart investing options.
