By Zoran Temelkov June, 2022
Neobanking startup platform Stashfin raised $270 million in a Series C funding round through a combination of equity and debt. The latest round consisted of $70 million in equity funding and approximately $200 million in debt.
The round was completed in June 2022 and was led by multiple investors such as Uncorrelated Ventures, Abstract Ventures, and Fasanara Capita. Previous investors such as Altara Ventures, Snow Leopard, and Kravis Investment Partners also engaged in the funding round.
According to a company statement, the Series C round brings its valuation to more than $700 million, which takes Stashfin a step closer to reaching unicorn status.
After completing its $270 million round, the company has received total funding of nearly $325 million in equity and debt since the start of its operations. In a Series B funding round more than a year ago, Stashfin raised $40 million in equity financing.
The Singapore-based neobank plans to use the funds to grow its operations in the Southeast and South Asia market and increase its product offerings. Stashfin focuses on the financial inclusion of the unbanked or underbanked population that face difficulties in accessing financial products offered by traditional banks.