No credit card, no problem. Meet StashFin! This Singapore-based startup's a neobanking platform that allows the underbanked access to transparent, simple and instant personal loans. Now, they've just raised a $270M Series C!

• They have nearly 10M registered users.
• They have grown 10x in the past 12 months and are on track to hit $100M in annualized revenue.

Who cashed in? Uncorrelated Ventures, Abstract Ventures and Fasanara Capital co-led the round. Altara Ventures, Snow Leopard and Kravis Investment Partners also joined in.

• The new round values StashFin at $700M–$800M.
• Their last round was a $40M Series B extension last year.

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🤷🏻‍♀️ Why it matters

They help those not offered credit cards or credit lines by traditional banks and neobanks. While they're ignored because of high operational costs, this leaves them struggling to be able to pay for tuition, rent and more.

• These are often blue-collar workers, those 23–38 years old and earning less than $500 a month and armed forces.
• While nearly 1B Indians have bank accounts, less than 30M have a credit card today. Low credit card penetration's an issue in SEA too.

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🤑 How it works

Founded in 2016, they offer personal loans of all kinds, including a "credit line card" that we'll be diving into.

• They issue nearly 100,000 new cards per month.
• They use alternative data like mobile, banking and other data to estimate applicants' ability to repay.

Easy setup and go. Just load the virtual or physical card with cash up to the maximum of your approved credit limit, and go!

• Use these with e-wallets and to shop at online and physical stores.
• Unlike a credit card, you can even withdraw the amount in cash!

All-in-one app. Their app makes it simple to manage credit, repayment and fund transfer. They're not here to make money off you paying late.

• Repay in monthly installments from 3 to 36 months.
• Pay affordable interest only on the funds you've spent, not the entire credit limit.

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🌏✈️ Going beyond

While based in Singapore, StashFin actually only serves customers in India. But that's changing. With the new round, they'll be expanding to Southeast Asia and other markets in South Asia! Oh, and they'll be upgrading their tech to prep for new products.