Forward-Looking Fintech: nsave Raises EUR 17.5 Million to Expand Global Services

In a move aimed at making international banking more accessible, nsave has announced the closure of a EUR 17.5 million Series A funding round intended to broaden its account services and roll out a new investment product. The funding round was led by TQ Ventures, with additional participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation. According to the company, this investment will facilitate its mission to provide individuals worldwide with secure and compliant banking, as well as diversify its offerings by introducing access to US equities, ETFs, and funds managed by established asset managers.

Founded in 2022 by former Rhodes Scholars Amer Baroudi and Abdallah AbuHashem, nsave focuses on serving young professionals who relocate to different countries and are often excluded by existing compliance processes due to factors related to their country of birth. The fintech also aims to support individuals from high-inflation economies who face additional challenges when attempting to manage or safeguard their funds abroad. By working closely with regulated financial institutions in the UK and Switzerland, nsave seeks to ensure that safety and regulatory standards are upheld while offering digital account capabilities to a broader customer base.

Speaking about the company’s goals and the opportunities this funding will unlock, CEO Amer Baroudi stated: “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.” He added that, for many individuals, having access to more sophisticated investment vehicles is a first. Reflecting on what this development means for customers, he noted: “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.” This perspective highlights the platform’s ambition to promote inclusive finance, particularly for those who encounter barriers tied to nationality or geopolitical constraints.

In addition to these announcements, nsave has launched a new mobile app that aligns with its expanded capabilities. The redesign features an investment function allowing users to explore and manage an assortment of financial products in a more streamlined environment. Commenting on the significance of the recent funding in a LinkedIn post, the company remarked: “This funding is a testament to the incredible support from our investors who share our goal of a world where everyone has access to secure financial services – no matter their background.” This statement underscores the support the firm has garnered from prominent backers who acknowledge the importance of tackling existing disparities within the financial services sector.

Meanwhile, TQ Ventures Co-founder Schuster Tanger also shared his perspective on the partnership, noting: “From the outset, I was impressed by nsave’s unique approach and the strength of their team.” He further emphasized that the co-founders’ firsthand experiences have helped shape nsave’s methodology for addressing challenges tied to cross-border financial transactions. By collaborating with experienced partners and leveraging advanced compliance-by-design frameworks, nsave aims to establish an inclusive environment where users can access a range of financial tools they might otherwise be denied.

With offices in London and Geneva, nsave expects to scale its services in order to meet the needs of even more customers who have traditionally been underserved by mainstream banking institutions. By offering accounts that meet strict compliance standards in multiple regions, the fintech is attempting to bridge gaps that often restrict certain populations from acquiring stable and secure financial services. Observers in the industry will be monitoring how this latest round of funding propels nsave to deliver on its mission of empowering a diverse global client base through regulated, tech-focused solutions that address core issues of accessibility and trust.