StashAway, a digital wealth manager based in Singapore has raised US$16 million in Series C funding round.
The Funding was led by an Australian venture capital firm Square Peg, Burda Principal Investments from Germany and existing investor Eight Roads Ventures also patronized the funding round.
StashAway has raised a total of US$36.4 million since inception.
Founded in 2016, StashAway is a digital wealth manager for both individual and institutional investors. The company now operates in Singapore and Malaysia. It uses it software to deliver automated, tailored portfolio management services for each client’s individual portfolios.
Michele Ferrario, Co-founder and CEO of StashAway thinks this round of funding brings strengthens the company. “This new round of financing further strengthens StashAway’s balance sheet position, bringing our paid-up capital to MYR 153.8 million (US$36.2 million). 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.”
Additionally, Square Peg’s Partner, Tushar Roy, will join StashAway’s Board of Directors. Tushar has enormous professional in investing and consulting across industries and geographies.