- April 26, 2021
- 3107 Views
StashAway to raise $25 million in Series D led by Sequoia
I’m excited to announce that we’re raising $25 million USD ($33.34 million SGD) in a Series D funding round led by Sequoia Capital, the world’s leading venture capital firm and early investor in some of the world’s largest companies including Apple, Google, Youtube, Paypal, WhatsApp and Zoom.
Our existing investors, Eight Roads, the global investment firm backed by Fidelity International and early investor in Alibaba; and Square Peg, the largest venture capital fund in Australia, also participated in the round.
I have attached our press release (and most updated press kit here for your convenience). Here are the main highlights that I think would be of most interest to you:
- This funding round will bring StashAway’s total paid-up capital to $84.04 million SGD and accelerate investment product and feature developments across its 5 markets. The company will also offer to buy back up to $3 million USD ($4 million SGD) in stock options from its employees and expand its engineering team in Singapore and abroad.
- Abheek Anand, Managing Director, Sequoia India, will be joining StashAway’s Board of Directors as part of the funding round, pending regulatory approvals. He says, “StashAway is growing rapidly as it fulfils an obvious gap in the digital wealth management space, especially in areas where its competitors may be lacking
- On buying back employee shares and expanding the team, Nino Ulsamer, Co-Founder and CTO adds, “Providing up to $4 million SGD in liquidity to our employees helps StashAway attract the best talent; it shows that startups can succeed and be extremely financially rewarding. We want all of our team members to participate in the financial benefits of building a successful company
Re-disseminated by The Asian Banker