Stashfin Revenue, Valuation, Funding & Investors

Stashfin is valued at $750M as of June 2022, a 7.5x multiple on its last reported $100M revenue.

Last Stashfin valuation

$750M

Series C · Jun 2022

Last Stashfin funding round

$70M

Series C · Jun 2022

Stashfin revenue

$100M

Series C · Jun 2022

Key investors in Stashfin

  • Snow Leopard Technology Ventures
  • Uncorrelated Ventures
  • Analog Capital
  • Altara Ventures
  • Kravis Investment Partners
  • Tencent

Stashfin Overview

About Stashfin

Stashfin is a Mumbai-based fintech platform offering instant personal loans from ₹1,000 to ₹5 lakhs at 21-45% APR over 12-36 months. Regulated by RBI, it also enables investments in SEBI-approved corporate bonds starting at ₹10,000 with up to 15% annual returns and monthly interest. Additional products cover term life, device, and UPI fraud insurance.


Founded

2016

HQ

IndiaNew Delhi

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$100M (Jun 2022)

Valuation

$750M (Jun 2022)

Stashfin Valuation

Stashfin is currently valued at $750M, based on its Series C in June 2022.

The $70M round was led by Abstract, Fasanara Capital and Uncorrelated Ventures, with participation from Kravis Investment Partners, Altara Ventures and Snow Leopard Technology Ventures.

Stashfin's valuation has grown 5.6x from $135M at its Series B in April 2021 to $750M in June 2022, across 2 priced rounds.

Stashfin valuation by funding round

Revenue multiple
Stashfin valuation by funding round
DateStageValuationRevenue Multiple
Jun 2022Series C$750M7.5x
Apr 2021Series B$135M-

Stashfin Revenue

Stashfin's latest recorded revenue is $100M, as of its Series C in June 2022. At a $750M valuation, that implies a 7.5x revenue multiple.

Stashfin revenue by funding round

Stashfin revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2022$100M$750M7.5xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Stashfin Funding History

Stashfin has raised a total of $115M across 3 funding rounds.

Stashfin's first fundraising round was a $5M seed round in June 2017. The most recent completed round was a $70M Series C in June 2022.

Stashfin funding rounds

Stashfin funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2022Series CAbstract (lead); Fasanara Capital (lead); Uncorrelated Ventures (lead); Kravis Investment Partners; Altara Ventures; Snow Leopard Technology Ventures$70M$750MStashfin is a Singapore-based neobanking platform founded in 2016 by Tushar Aggarwal, primarily serving the Indian market with credit line-linked Visa cards issued by SBM Bank India, targeting underserved segments like blue-collar workers, individuals earning under $500 monthly, and armed forces personnel with loans up to Rs 5 lakh. The platform offers physical and virtual cards usable across digital payment infrastructures and aims to expand into Southeast and South Asia while upgrading technology for new products. In June 2022, Stashfin raised $270 million in a Series C round comprising $70 million in equity led by Uncorrelated Ventures, Fasanara Capital, and Abstract Ventures, with participation from existing investors Altara Ventures, Kravis Investment Partners, Snow Leopard Technology Ventures, and others, plus $200 million in debt. At the time of the round, Stashfin reported nearly 10 million registered customers, 10x growth in monthly business over the past 12 months, issuance of close to 100,000 new cards monthly, and an annualized revenue run rate (ARR) nearing $100 million, with projections to reach $400 million in 12-18 months. Approximately 80% of revenue came from India, with 65% from interest income and the rest from fees and transactions; the company had turned profitable. The funds were earmarked for geographic expansion, technology enhancements, hiring in tech and data sciences, portfolio optimization, and advancing financial inclusion. Stashfin positioned itself as evolving into a compound startup offering diverse financial products across credit risk spectrums, leveraging in-house AI technology.
Apr 2021Series BTencent (lead); Analog Capital; Integrated Capital; Kravis Investment Partners; Altara Ventures; Uncorrelated Ventures; Saison Capital; Positive Moves; Snow Leopard Technology Ventures$40M$135MStashfin, a Singapore-based neobanking startup founded in 2016, raised $40 million in a Series B equity funding round in April 2021 led by Tencent, with participation from Altara Ventures, Uncorrelated Ventures, Integrated Capital, Kravis Investment Partners, Saison Capital, Snow Leopard Technology Ventures, Positive Moves, and existing investors like Alto Partners. The company did not disclose the valuation for this round. Funds were intended to grow its lending portfolio in India and provide neobanking solutions to businesses across South Asia. Stashfin focuses on frictionless banking and services using technology to serve unbanked populations in the region. Investors highlighted Stashfin's resilience amid challenging market conditions, innovative product on a robust tech platform, and explosive growth. Snow Leopard Global's founder noted the company's ability to innovate and grow without compromising the bottom line, emphasizing the potential in personnel-lite neobanking. Altara Ventures' chairperson pointed to the huge market opportunity in India for credit to unbanked sections. This Series B followed prior funding, contributing to Stashfin's total raised exceeding $425 million across multiple rounds. A later Series C in June 2022 raised $70 million at a $730 million valuation led by Abstract, Fasanara Capital, and Uncorrelated Ventures to support growth and scale operations. Subsequent debt financings included INR 8 billion (approx. $100 million) in March 2023 and INR 788 million (approx. $10 million) in May 2025 for expansion and portfolio optimization. As of December 2022, Stashfin reported a net worth of ₹330 crore with a debt/equity ratio of 2.70x.
Jun 2017SeedSnow Leopard Technology Ventures (lead); Analog Capital; Kirloskar Brothers; Vibhav Dhawan; Praveen Malhotra; Ranu Vohra; growX ventures; Raoul Bajaj$5M-Stashfin, founded in 2016, is a virtual credit facility provider and neobanking platform offering financial products like credit line cards to underserved segments including blue-collar workers and low-income individuals aged 23-38. The company kicked off operations that year with presence in four cities and was in stealth mode during its early funding. Stashfin secured $5 million in a seed round (referred to as pre-Series A in some reports) on June 27, 2017, led by Snow Leopard Technology Ventures, with participation from Analog Capital, growX Ventures, Kirloskar Brothers, Praveen Malhotra, Ranu Vohra, Raoul Bajaj, and Vibhav Dhawan. The funds supported initial operations, product development, and leveraging machine learning for consumer lending and big data monetization. The core team, with over 60 employees experienced from Bank of America, Citi, Deloitte, and Kabbage, positioned Stashfin among large early-stage rounds in India, comparable to SoFi, Lendup, and Nubank.

Who has invested in Stashfin?

17 investors have backed Stashfin across its funding rounds, including Snow Leopard Technology Ventures, Uncorrelated Ventures, Analog Capital, Altara Ventures, Kravis Investment Partners and Tencent.

Lead investors include Abstract, Fasanara Capital, Uncorrelated Ventures, Tencent and Snow Leopard Technology Ventures.


Stashfin Investors

Investors in Stashfin by funding rounds participated
InvestorHQRoundsRoleFirst check
Snow Leopard Technology VenturesIndiaPune3LeadJun 2017
Analog CapitalSingaporeSingapore2ParticipantJun 2017
Kravis Investment PartnersUnited StatesNew York City, NY2ParticipantApr 2021
Altara VenturesSingaporeSingapore2ParticipantApr 2021
Uncorrelated VenturesUnited KingdomLondon2LeadApr 2021
Integrated CapitalHong KongHong Kong1ParticipantApr 2021
Kirloskar BrothersIndiaPune1ParticipantJun 2017
Vibhav DhawanIndiaNew Delhi1ParticipantJun 2017
Praveen MalhotraIndiaGurgaon1ParticipantJun 2017
Saison CapitalSingaporeSingapore1ParticipantApr 2021
Positive MovesIndiaGurgaon1ParticipantApr 2021
TencentChinaShenzhen1LeadApr 2021
AbstractUnited StatesSan Francisco, CA1LeadJun 2022

This data is available for Pro users. Sign up to see all 17 Stashfin investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Stashfin Competitors

Stashfin competitors include listed companies like Green Dot, Katapult, Propel Holdings and FinVolution Group, and private ones like TVS Credit Services and Turtlemint.

Public and private companies comparable to Stashfin
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Green DotUnited StatesUnited StatesPublicly listed$2.1B($12M)$751M0.3x
KatapultUnited StatesUnited StatesPublicly listed$292M$215M$780M2.7x
Propel HoldingsCanadaCanadaPublicly listed$556M$130M$711M1.5x
FinVolution GroupChinaChinaPublicly listed$2B$476M$798M0.1x
TVS Credit ServicesIndiaChennaiPrivate--$812M-
TurtlemintIndiaMumbaiPrivate$72M-$900M12.5x

Stashfin Public Comps

Stashfin is still privately-owned, but its public comps include Green Dot, VersaBank, Liberty Financial Group, Katapult, Propel Holdings, FinVolution Group, Latitude Financial Services, NICO Holdings, Funding Circle and Standard Chartered Bank.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Green Dot$2.1B($12M)0.4x0.3x(63.9x)4.2x
VersaBank$89M-8.5x6.9x--
Liberty Financial Group$259M$127M42.5x24.3x86.6x84.9x
Katapult$292M$215M3.0x2.7x4.0x58.2x
Propel Holdings$556M$130M1.9x1.5x8.3x6.8x
FinVolution Group$2B$476M0.0x0.1x0.2x0.3x
Latitude Financial Services$800M$371M6.5x7.5x14.1x40.4x
NICO Holdings$868M$131M0.9x-6.2x-

This data is available for Pro users. Sign up to see all Stashfin competitors and their valuation data.

Start Free Trial

Common questions about Stashfin

When was Stashfin founded?Stashfin was founded in 2016.
Where is Stashfin headquartered?Stashfin is headquartered in New Delhi, India.
Is Stashfin publicly listed?No, Stashfin is a private, VC-backed company.
What is Stashfin's valuation?Stashfin was last valued at $750M in its Series C in June 2022.
How much funding has Stashfin raised?Stashfin has raised $115M across 3 funding rounds.
What was Stashfin's last funding round?Stashfin's last funding round was a $70M Series C in June 2022, led by Abstract, Fasanara Capital and Uncorrelated Ventures.
Who are Stashfin's investors?Stashfin's investors include Snow Leopard Technology Ventures, Analog Capital, Kravis Investment Partners, Altara Ventures, Uncorrelated Ventures, Integrated Capital, Kirloskar Brothers, Vibhav Dhawan, Praveen Malhotra, Saison Capital and 7 others.
What is Stashfin's revenue?Stashfin's latest recorded revenue is $100M (June 2022).
What is Stashfin's revenue multiple?Stashfin's latest valuation implies a 7.5x revenue multiple ($750M valuation on $100M of revenue).
Which companies are comparable to Stashfin?Companies comparable to Stashfin include Green Dot, Katapult, Propel Holdings, FinVolution Group, TVS Credit Services and Turtlemint.

See companies similar to Stashfin

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial