Vinted, Europe’s largest online C2C platform dedicated to second-hand fashion and a portfolio company of BurdaPrincipal investments, has raised €250 million of new investment in a Series F funding round.
Stash Away, Southeast Asia’s largest and fastest-growing digital wealth manager for both retail and accredited investors, has announced that they are managing more than 1 billion USD. By doing so, the company is the first digital wealth manager in Southeast Asia, MENA and any of those regions to announce that it manages more than 1 billion USD and even reached this milestone in less than 4 years – faster than it took the world’s largest digital wealth managers, Betterment and Wealthfront.
“When the company was founded, our objective was to significantly improve the way people build their wealth. For those who do invest their savings, traditional investment options just weren’t acceptable. But we knew that cash in the bank is actually our biggest competitor. That’s why we’ve always focused not only on sophisticated investment principles and a great customer experience, but also financial education to help more people understand how to better manage and grow their wealth. This relationship with our clients and the public has been a key to our fast growth.”
Michele Ferrario, co-founder and CEO of Stash Away
“Reaching this 1 billion USD milestone in less than 4 years is only one of the many signs we see that Asia truly wants a better way to create wealth: We see high conversion rates, large consistent deposits, and engagement with our educational content, for example. We’re still only scratching the surface for what’s possible when it comes to transforming wealth creation in Singapore, Malaysia, and MENA.”
Freddy Lim, co-Founder and CIO of Stash Away
The World Economic Forum recognised Stash Away in 2020 as a Technology Pioneer for developing cutting edge technology and “contributing greatly to improving the state of the world.” Burda has been invested in Stash Away since July 2020.