nsave Raises $4M in Seed Funding

Amer Baroudi and Abdallah AbuHashem
Amer Baroudi and Abdallah AbuHashem

nsave, a Geneva, Switzerland-based fintech company, raised $4m in seed funding.

The round was led by Sequoia Capital and TQ Ventures with participation from Y Combinator, SV Angel, ACE Ventures, and FONGIT.

The company intends to use the funds to expand its infrastructure, including scaling engineering and operations, and its beta pilot to thousands of additional customers.

Led by Abdallah AbuHashem and Amer Baroudi, nsave has developed an app that allows customers who suffer from high inflation and reside in unstable economies to protect their money by accessing safe accounts. The company has also developed a proprietary monitoring transaction tool to ensure it meets the most stringent banking regulations, including anti-money laundering and counter-terrorist financing laws as well as processes for identifying and verifying a client’s identity when opening an account, also referred to as Know Your Client or KYC.