Neobanking platform StashFin has raised $40 million in its Series B funding round. The Singapore-based startup received investment from global investors – Uncorrelated Ventures and Altara Ventures, among others.
The funding round saw participation from Integrated Capital, Saison Capital, Kravis Investment Partners and Tencent Cloud Europe BV, along with existing investors Snow Leopard Ventures, Alto Partners and Positive Moves.
The platform aims to utilize the funds raised to expand its portfolio in India and to offer neobanking solutions to businesses in South Asia, said founder and Chief Executive Officer – Tushar Aggarwal.
StashFin is a digital lending venture started by a team of former financial services professionals dedicated to disrupting traditional lending in India. The team has worked with several firms in the Banking and Financial Services space, such as Bank of America, Merrill Lynch, Citi, Deloitte, Kabbage etc. in India and USA.
The platform offers instant loans that range from ₹1000 to ₹5,00,000 with repayment periods starting from 3 months to 36 months. It offers interest rates ranging from 11.99% – 59.99% APR (Annual Percentage Rate), however rates may vary case to case. All loans are paid through Equal Monthly Installments (EMIs) via electronic payment.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.