nsave funding news – London-based nsave Raises €17.5 Million in Series A Round Funding

The company also confirmed an $18mn Series A investment led by TQ Ventures with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation, to accelerate their growth.

Today’s launch means customers can access US equities, ETFs and soon funds managed by some of the world’s largest asset managers via the nsave app, subject to onboarding and compliance checks.

By working with regulated financial institutions and banking partners in the UK and Switzerland, it offers safe and compliant accounts abroad, democratising offshore services to millions of people affected by high inflation or economic uncertainty in their home countries.

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It’s customers include young professionals who move abroad and face exclusionary and outdated compliance processes due to their country of birth, alongside people from high inflation economies, who fear their life savings will be wiped out.

Based in London and Geneva, it is led by former Rhodes Scholars Amer Baroudi and Abdallah AbuHashem.

nsave CEO Amer Baroudi said: “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 and co-managing partner, Schuster Tanger, said: "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.”

About nsave

nsave provides trusted accounts to people from countries where inflation is high and banking is broken. Experienced in banking, regulatory compliance, and fintech, the nsave team has worked for Morgan Stanley, Revolut, BNY Melon, Checkout.com, Robinhood, and Microsoft.