London- and Geneva-based fintech firm Nsave has launched a new investment product designed to help users safeguard and grow their wealth.
The launch coincides with the company’s closure of an $18m Series A funding round led by TQ Ventures, with participation from Sequoia Capital, Y Combinator, ACE Ventures, and the Proton Foundation.
The new investment product allows Nsave customers to access US equities, exchange-traded funds (ETFs), and, in the near future, funds managed by some of the major asset managers via the Nsave app.
These offerings are subject to onboarding and compliance checks, ensuring adherence to financial regulations.
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.”
Nsave specialises in providing compliant offshore accounts to individuals in high-inflation economies. It partners with regulated financial institutions and banking organisations in the UK and Switzerland to provide safe and compliant offshore accounts.
The company aims to democratise access to international financial services, offering a lifeline to individuals affected by high inflation and economic instability in their home countries.
The platform primarily serves young professionals relocating abroad, who face restrictive compliance barriers due to their countries of origin, as well as individuals from high-inflation economies seeking to preserve their life savings.
Nsave accounts enable customers to hold and manage funds in stable currencies, providing protection against economic uncertainty while offering the freedom to send, store, and spend money globally.
Founded by Amer Baroudi and Abdallah AbuHashem, Nsave is focused on addressing financial exclusion through innovative, borderless banking solutions.
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.”
In March 2024, the company raised $4m in seed funding, co-led by Sequoia Capital and TQ Ventures, with additional support from Y Combinator, ACE Ventures, SV Angel, and FONGIT.
