Save, a Texas-based FinTech firm, has raised an undisclosed amount of funding from a round led by BNP Paribas.
Also taking part in the investment round was Webster Bank.
Founded in 2019, Save claims it is the world’s first savings platform. The firm states it is team of ‘market-leading investment professionals’ who believe that the current equity markets contain significant draw-down risks.
The firm’s services allow its customers to benefit from higher returns with lower risk to capital compared to any product in the US market today. Save achieves this advantage through the elimination of fees and taxes where feasible and through an investment platform that passes all benefits directly to its customers.
The same customer-first principles apply to its own fees, which are never charged should they not deliver on our promises.
FinSMEs claims that Save intends to use the funds to scale up its current product range and to launch its new B2B business, dubbed ‘Powered by Save’, as it continues to expand its offering through institutional partnerships and advisory channels.
Membrane Finance, a company building a European alternative to the USD stablecoin, has secured its e-money licence and raised €2m.
The seed funding round was led by Finnish seed stage venture capital company Maki.vc.
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