Singapore-based digital bank StashFin has received $40m in series B funding from investors including corporates Kirloskar Group, Credit Saison, Tencent and Positive Moves, the Economic Times has reported.
Altara Ventures, Uncorrelated Ventures, Integrated Capital, Kravis Investment Partners and existing backers including Alto Partners also took part in the round.
Positive Moves invested directly while Kirloskar, Credit Saison and Tencent participated through Snow Leopard Ventures, Saison Capital and Tencent Cloud Europe respectively.
StashFin provides a credit line card which enables users to upload credit, only paying interest on the funds they use. The series B proceeds will support an expansion of its business banking activities across Southeast Asia as well as its lending portfolio in India.
Internet Capital Advisors, StashFin’s holding company, had secured $5m in a 2017 pre-series A round featuring Snow Leopard Ventures, Alto Partners, GrowX Ventures and various individuals. It has not revealed any details of its series A funding but ET identified Positive Moves as an existing investor.
