Swiss fintech startup nsave has successfully secured $18 million in a Series A funding round, spearheaded by TQ Ventures, with notable contributions from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation.
Founded in 2022, nsave provides international foreign currency accounts in euros, US dollars, and sterling, catering to individuals from regions experiencing economic challenges or significant inflation. The platform serves a diverse clientele, including young professionals relocating overseas and individuals from high-inflation countries concerned about the preservation of their savings.
This new influx of capital aligns with the rollout of an investment product that will grant users access to US equities and ETFs, with plans to incorporate funds managed by some of the world’s leading asset managers in the near future.
CEO Amer Baroudi expressed the company’s mission: “We aim not only to safeguard the wealth of everyday individuals through secure and compliant accounts abroad but also to facilitate opportunities for wealth growth.” He added, “For many of our clients, this marks their first chance to engage with reliable investment services in a secure manner. We firmly believe that one’s passport should not dictate their potential for prosperity. Our compliance-first strategy allows us to safely provide services to a broader audience.”