Fintech nsave raises $18M

Nsave, a financial technology platform for customers in high-inflation countries, has raised an $18M Series A round and launched an investment product alongside its accounts provision.

The investment was led by TQ Ventures with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation, to accelerate their growth.

The launch gives customers access to US equities, ETFs and funds managed by asset managers, subject to onboarding and compliance checks.

The company works with regulated financial institutions and banking partners in the UK and Switzerland, to ensure safety and compliance abroad. 

For its cutsomer base, nsave targets young professionals who move abroad and face exclusionary compliance processes due to their country of birth, alongside people from high inflation economies.

Based in London and Geneva, the company is led by former Rhodes Scholars Amer Baroudi and Abdallah AbuHashem. CEO Amer Baroudi commented: "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." "For some of our customers, this is the first time they can access trusted investment services securely. We believe your passport shouldn't determine your path to prosperity. Our compliance-by-design approach enables us to offer services safely to many more people."

TQ Ventures co-founder Schuster Tanger added: "nsave is tapping into a massive market of individuals underserved by existing financial services who need secure, stable financial solutions.

"From the outset, I was impressed by nsave's unique approach and the strength of their team, no doubt a function of Amer and Abdallah's own lived experience of these challenges. We're thrilled to roll up our sleeves with nsave to create a more inclusive financial system."