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StashAway raises US$12m led by Eight Roads Ventures

Funds will help its regional expansion, speed up product development efforts and improve startup's offerings with a view to expanding high net worth client base

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From left: StashAway's co-founder and chief technology officer Nino Ulsamer, co-founder and chief executive Michele Ferrario, and co-founder and chief investment officer Freddy Lim.

Singapore

STASHAWAY, a robo-advisor that serves both retail and accredited investors, has raised US$12 million through a Series B round led by Eight Roads Ventures, the proprietary investment arm of Fidelity International.

Other backers include Asia Capital & Advisors, a