Fintech nsave Introduces Investment Platform for Inflation-Hit Economies

In an era marked by economic uncertainty and rising inflation in several countries, the fintech company nsave has stepped up to provide a lifeline for individuals seeking stability and growth for their investments. With the recent launch of its investment platform, nsave is now empowering people from distressed economies to combat the financial threats posed by inflation through compliant and secure investment options abroad.

Founded by visionaries Amer Baroudi and Abdallah AbuHashem, nsave aims to democratize access to safe and reliable financial services for all, particularly those who have found their options limited by oppressive economic climates. The platform is designed specifically for those living in high inflation countries, where saving can feel futile and where traditional financial avenues may offer little security.

The new investment service allows customers to open accounts in major currencies such as dollars, pounds, or euros, providing a buffer against local currency devaluation. Users can now invest in U.S. equities, exchange-traded funds (ETFs), and various managed funds, thereby diversifying their portfolios and potentially generating returns despite domestic economic turbulence.

nsave has received significant backing in its mission to enhance financial inclusivity. An $18 million Series A funding round was successfully led by TQ Ventures, with participation from high-profile investors including Sequoia Capital, Y Combinator, ACE Ventures, and the Proton Foundation. These funds will be allocated towards scaling their operations and refining the platform to cater to a growing customer base that includes young professionals who have relocated internationally and individuals desperate for safe investment options.

Addressing the pressing issue of financial exclusion that many face, nsave’s platform stands out due to its commitment to compliance. By collaborating with regulated financial institutions in the UK and Switzerland, the service ensures that accounts are not just safe but also compliant with international regulations, facilitating peace of mind for its users.

"Our vision is to do more than just protect the wealth of everyday people; we want to enable them to grow it as well," said nsave CEO Amer Baroudi. He emphasized how, for many of their users, this is their first exposure to reliable investment services, stating, "We believe that one’s passport should not dictate their path to prosperity. Our compliance-by-design approach allows us to provide secure services to more individuals."

Schuster Tanger, co-founder of TQ Ventures, echoed Baroudi's sentiments, pointing out the vast market of underserved individuals who crave stable financial solutions. "From the outset, I was impressed by nsave's distinctive strategy and the strengths of their team. Their own experiences highlight the pressing challenges faced by many, and we’re excited to help create a more inclusive financial ecosystem."

As the demand for inclusive financial solutions grows alongside the specter of inflation, nsave's innovative platform comes at a crucial time. It represents not only a new opportunity for investment but also a chance for transformation in the way individuals from high-risk economies can achieve financial stability and growth.

By empowering customers with tools that were previously out of reach, nsave is paving the way for a future where wealth creation is accessible, regardless of economic circumstances. This strategic move positions them not just as a service provider but as pioneers in the fight against financial exclusion, ensuring that those who need it most have the chance to not only survive but thrive in today’s financial landscape.

Topics Financial Services & Investing)

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