Stashfin is a Singapore-based neobanking platform that issues credit line cards to under‑represented segments such as blue‑collar workers, people aged 23–38 earning under $500/month, and members of the armed forces; it currently serves customers in India. The company built a proprietary underwriting tech stack over about three and a half years that verifies applicants via two degrees of information and analyzes mobile, banking and other signals. Stashfin says its underwriting platform is profitable and scales with attractive unit economics. The startup has nearly 10 million registered customers and is issuing close to 100,000 new cards each month. It is on a trajectory to hit $100 million in annualized revenue and projects that figure would grow by over four times in the next 12–18 months. Stashfin plans to expand beyond India into Southeast Asia and other South Asian markets. StashFin operates a digital lending and neo-banking platform that issues physical and virtual cards and offers online personal loan applications. The platform supports ATM withdrawals, monthly installments, payback rewards, free annual fees and supplementary cards, and it has a Visa partnership. The company reported 200x growth in recent years and employs about 200 people. StashFin plans to use new funding to strengthen operations, expand product offerings, add more local languages, and build a presence across the South Asian market. Prior to the latest round the startup had raised $35 million in total funding. The company was founded in 2016 by Tushar Aggrawal and is based in Singapore. Stashfin, operated by Delhi-based EQX Internet Capital Advisors Pvt Ltd and launched in September 2016, is a machine learning-driven digital lending venture offering virtual credit facilities to consumers. The platform issues loans ranging from Rs 10,000 to Rs 200,000 with repayment tenures from two to 18 months and annual interest rates between 11.99% and 59.99%. At the time of the round the company was operational in four cities and employed around 60 people. The founding team includes co-founder Tushar Aggarwal and the company counts David Lin, former head of risk and analytics at Kabbage, as an adviser. Stashfin secured its pre-Series A funding while still in stealth mode and positions itself to address under-penetration of technology and credit in India’s financial services sector.

Total raised

$315M

Funding rounds

4

Latest round

Series C

Latest activity

Jun 2022