nsave secures £3.2m in seed funding led by Sequoia Capital and TQ Ventures
The seed round was co-led by Sequoia Capital and TQ Ventures to support infrastructure expansion and beta scaling.
£3.2MSeed
A financial technology company offering secure accounts and payments for individuals living in unstable economies.
Fintech startup nsave has secured £3.2m in its inaugural seed funding round. The investment was co-led by Sequoia Capital and TQ Ventures, with additional backing from Y Combinator, SV Angel, ACE Ventures, and FONGIT. The capital will be directed towards scaling engineering and operational infrastructure, alongside expanding the company beta pilot to a broader customer base.
From the founder
"The reality is that if you come from a distressed country, the global banking system will discriminate against you and label you as a “high risk client” and in most cases refuse to serve you simply because of where you come from. I have seen the impact of that unfair exclusion myself, and my loved ones have suffered because of this. We had to do something and innovate a better and more inclusive way of risk assessment in order for us to serve the people who desperately need access to safe financial service while making sure we comply with regulations."
AB
Amer Baroudi
Co-founder at nsave
Investor perspective
"Developing a global product compliant with strict financial regulations is no easy task, not to mention building partnerships with banks – yet the nsave team has done just that. Now that nsave is live, there’s finally a trusted option to protect their users against the rampant inflation of distressed economies, providing safe, stable offshore accounts to people who need them the most."
GR
George Robson
Partner, Sequoia Capital
Use of funds
- 01Build out infrastructure
- 02Grow the team
- 03Scale operations
