Neo banking startup StashFin has raised $40 million in a Series B equity round led by a clutch of global investors, including Altara Ventures and Uncorrelated Ventures.

The funding round also saw participation from Integrated Capital, Kravis Investment Partners, Saison Capital and Tencent Cloud Europe BV, along with existing investors, Snow Leopard Ventures, Alto Partners, and Positive Moves.

As per the startup, it plans to use the raised funds to pursue neo-banking across South Asian markets while doubling down to grow in existing markets.

The neo banking startup also plans to strengthen the customer platform for local languages.

Started by Parikshit Chitalkar and Shruti Aggarwal, StashFin offers a credit line card in partnership with the payment network provider, VISA, that permits customers to access their credit facility with easy monthly installments and zero annual fees.

Speaking on the development, Tushar Aggarwal, Founder and CEO of StashFin, said,

“We are sitting on a unique opportunity to enable millions of consumers to get closer to their dreams and improve financial inclusion. South Asia is on the cusp of a financial revolution. Our mission is to use technology to enable frictionless banking and services.”

With over 200 employees, the startup claims it has witnessed a 200x growth over the last few years.

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