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Nsave Launches Easy Investment Solution for Economies Hit by Inflation

Nsave Launches Easy Investment Solution for Economies Hit by Inflation
Image Source: nsave
  • Nsave introduces a platform offering access to US equities, ETFs, and funds, to support individuals fighting high inflation.
  • The startup raised $18M in Series A funding led by TQ Ventures, with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation.

Nsave is a fintech startup that offers compliant accounts abroad to people from countries with high inflation. They have introduced a new investment platform to help communities struggling under unstable economic conditions. 

Nsave Expands into the Global Market

The platform provides access to ETFs, US equities, and funds through its nasave app which is subject to compliance checks. It allows people to protect and grow their wealth. 

In a press release, the startup announced that it raised $18 million in a Series A funding round. This round was led by TQ Ventures, with participation from Sequoia Capital, Y Combinator, ACE Ventures, and Proton Foundation.

Through its partnerships with regulated financial institutions in Switzerland and the UK, the startup aims to provide safe and compliant accounts for overseas clients. Nsave democratizes offshore services for those experiencing financial exclusion or the threat of losing savings in times of economic instability.

Beyond Wealth Protection

The app’s customers and users primarily consist of young professionals who encounter challenges along with outdated compliance processes. These customers typically hail from countries with high inflation and require means to safeguard their life savings. 

People from countries like Syria, Lebanon, and Egypt find themselves in difficult situations as their money’s value declines over time. To have better chances and preserve their money’s value, they try to open bank accounts abroad. 

Youssef Ramzy, head of growth at nsave, said that these individuals face many restrictions and are usually asked to have a huge minimum balance to move on with the process. 

Amer Baroudi, nsave CEO, announced that their vision is to go beyond protecting people’s wealth. This will be possible by enabling safe and compliant accounts abroad, and allowing them to grow it.

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