Wealthtech

StashAway Raises $16 Million USD in Its Series C Funding Round Led by Square Peg

Robo advisor operator StashAway announced today the completion of a $16 million USD 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, both also participated in the round.

Michele Ferrario

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 SGD 50.7 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.”

Square Peg’s Partner, Tushar Roy, will join StashAway’s Board of Directors. Tushar brings with him more than 20 years of professional experience investing and consulting across industries and geographies. Tushar led Square Peg’s investments in other Singapore-based companies, such as FinAccel, Chope, and Doctor Anywhere.

Since its Series B fundraising round in July 2019, StashAway has launched the Income Portfolio in Singapore and StashAway SimpleTM in Singapore and Malaysia.