- Companies
- Stashfin
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
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
Website
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| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2022 | Series C | $750M | 7.5x |
| Apr 2021 | Series 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
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2022 | $100M | $750M | 7.5x | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2022 | Series C | Abstract (lead); Fasanara Capital (lead); Uncorrelated Ventures (lead); Kravis Investment Partners; Altara Ventures; Snow Leopard Technology Ventures | $70M | $750M | Stashfin 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 2021 | Series B | Tencent (lead); Analog Capital; Integrated Capital; Kravis Investment Partners; Altara Ventures; Uncorrelated Ventures; Saison Capital; Positive Moves; Snow Leopard Technology Ventures | $40M | $135M | Stashfin, 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 2017 | Seed | Snow 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2017 | ||
| 2 | Participant | Jun 2017 | ||
| 2 | Participant | Apr 2021 | ||
| 2 | Participant | Apr 2021 | ||
| 2 | Lead | Apr 2021 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Lead | Apr 2021 | ||
| 1 | Lead | Jun 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
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Start Free TrialStashfin Competitors
Stashfin competitors include listed companies like Green Dot, Katapult, Propel Holdings and FinVolution Group, and private ones like TVS Credit Services and Turtlemint.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.1B | ($12M) | $751M | 0.3x | ||
| Publicly listed | $292M | $215M | $780M | 2.7x | ||
| Publicly listed | $556M | $130M | $711M | 1.5x | ||
| Publicly listed | $2B | $476M | $798M | 0.1x | ||
| Private | - | - | $812M | - | ||
| Private | $72M | - | $900M | 12.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | ($12M) | 0.4x | 0.3x | (63.9x) | 4.2x | |||
| $89M | - | 8.5x | 6.9x | - | - | |||
| $259M | $127M | 42.5x | 24.3x | 86.6x | 84.9x | |||
| $292M | $215M | 3.0x | 2.7x | 4.0x | 58.2x | |||
| $556M | $130M | 1.9x | 1.5x | 8.3x | 6.8x | |||
| $2B | $476M | 0.0x | 0.1x | 0.2x | 0.3x | |||
| $800M | $371M | 6.5x | 7.5x | 14.1x | 40.4x | |||
| $868M | $131M | 0.9x | - | 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. |
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