FINANCIAL SERVICES | Staff Reporter, Singapore

Fintech startup StashAway secures $4.08m funding

$3.3m was from pre-series A.

StashAway is a cost-efficient investment engine that empowers individuals to manage their savings and achieve their personal financial goals. It also analyses an individual's financial assets, investment time horizon, and risk preferences. “StashAway brings a sophisticated investment framework to everyone, irrespective of their net worth, without any minimum balance, and at a transparent low fee,” says Michele Ferrario, co-founder and CEO, StashAway.

The startup recently secured a $4.08m funding, $780,000 of which is seed by the co-founders and a few angels, and $3.3m from pre-series A, led by Francis Rozario. What made StashAway stand out amongst a sea of fintech startups? "Unlike traditional financial advisors, the internal algorithms build and manage global, customised portfolios of highly diversified, low-cost ETFs across asset-classes, while putting an emphasis on risk management by incorporating deep analysis of economic cycles in order to to navigate its ups and downs and maximise long-term returns," Ferrario said.

Ferrario said StashAway's founders established the company as a result of dissatisfaction with traditional investment options available, and so they made the investment platform that they wanted for themselves. Those attributes are reflected in StashAway's unique selling points. For instance, no minimum balance means that customers can invest $1, $100, or $1,000,000, once or every day.

"Traditional options often require large minimum balances that prevent some people from investing until they are older with more savings. Our approach allows any one to start investing and building their wealth. Experienced investors that manage significant portfolios will appreciate the sophistication of the investment framework, detailed in a white paper published on StashAway's website, and could take advantage of the very cost-efficient platform to manage the liquid part of their portfolio," says Ferrario.

Additionally, their low fees lead to higher returns, as less money is taken from the portfolio each year. Unlimited withdrawals give customers access to their money whenever they want or need it. They also have a sophisticated investment strategy.

"The technology and our investment team are closely keeping watch of economic trends, and will automatically re-optimise portfolios when major economic changes demand portfolio asset allocations to change," says Ferrario. "All security trading happens automatically and aggregately, which maximises efficiency that we pass along to our customers in the form of lower fees."

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