Swiss fintech startup nsave has successfully raised $18 million in a Series A funding round led by TQ Ventures, with participation from Sequoia Capital, Y Combinator, ACE Ventures, and the Proton Foundation.
Founded in 2022, nsave provides international foreign currency accounts in euros, US dollars, and sterling for individuals from countries experiencing economic instability or high inflation. Its clientele includes young professionals relocating abroad, who often encounter compliance barriers due to their nationality, and individuals from high-inflation countries concerned about the safety of their life savings.
The new financing aligns with the launch of an investment product, which will offer access to US equities and ETFs, as well as funds managed by some of the world’s leading asset managers.
Nsave CEO Amer Baroudi stated, “Our vision extends beyond merely protecting people’s wealth through secure and compliant accounts abroad; we aim to empower them to grow it as well.” He added, “For many of our customers, this marks their first opportunity to access reliable investment services safely. We believe that your passport shouldn’t dictate your path to prosperity. Our compliance-by-design approach allows us to offer services safely to a broader audience.”