nsave

nsave is a fintech company that provides international hard-currency accounts and payment services to individuals from distressed and high-inflation economies who are typically refused service by traditional banks as "high-risk" clients. Through a mobile app, customers can hold USD, GBP and EUR balances, obtain account details in their own name (ACH and wire details for USD, UK faster payments/wire for GBP, and an IBAN over SEPA for EUR), convert between currencies around the clock, and send money to local bank accounts and mobile wallets in markets such as Pakistan, Bangladesh, Egypt and Syria [0][1]. The company describes holding customer funds in segregated accounts kept separate from its own operating funds [0][1].

The company was described at its 2024 seed round as nsave SA, a Swiss fintech aiming to democratise access to Swiss/offshore accounts for middle-class families in distressed economies, and it built a proprietary transaction-monitoring tool to meet anti-money-laundering, counter-terrorist-financing and KYC requirements [4]. Later coverage describes it as based in London and Geneva, with proprietary compliance technology as the core enabler of serving customers from these markets [6]; Y Combinator lists its location as London, United Kingdom [5]. Series A proceeds were reported to be directed toward global fintech infrastructure including compliance, fraud controls, sanctions screening and transaction monitoring, supporting expansion into underserved markets including Syria [3].

nsave frames the addressable problem as more than 700 million people in struggling economies who cannot access safe financial services or protect their money's value because of inflation, unstable local banks and financial exclusion [4][5][6].

Founding story

Co-founders Amer Baroudi (CEO) and Abdallah AbuHashem (CTO) are Rhodes Scholars who met at the University of Oxford. Baroudi, Syrian-born, saw his family lose savings after war in Syria and again during Lebanon's economic collapse, and was labelled a high-risk client by banks after moving abroad; AbuHashem is from Gaza and previously worked at companies including Microsoft and Robinhood, holding BS and MSc degrees in computer science from Stanford. Baroudi cites the security Swiss private banks provide the wealthy as the inspiration to democratise similar access [4][5][6].

Business model

nsave operates a consumer neobank-style app offering multi-currency accounts, cross-border transfers and currency conversion. Its website states pricing is based on the real exchange rate with a single transparent fee and no hidden spread on conversions; detailed fee levels are not disclosed in the sources [0][1]. Y Combinator classifies the company under Fintech / Neobank [5].

Sources indicate charges tied to currency conversion — "the real exchange rate with one transparent fee and no hidden spread" — but do not disclose fee schedules, interchange, interest or other revenue lines [0][1].

Traction

The company website reports over 500,000 users, support across 150+ countries, more than $1 billion moved per year, more than 1 million transactions a year, and a 4.4 out of 5 app store rating [0][1]. The product launched in March 2024 and the founder describes subsequent organic user growth [6]. Y Combinator lists a team size of 20 [5].

Latest developments

In January 2025 nsave announced an $18 million Series A; the founder states it was led by TQ Ventures with participation from Sequoia Capital, Y Combinator, ACE Ventures and Proton, while a secondary trade report lists Sequoia Capital, Y Combinator and TQ Ventures as investors [3][6]. Funds are being used to build out compliance and fraud infrastructure and to extend international USD, GBP and EUR accounts to underserved markets including Syria [3]. The company's current site advertises 500k+ users and $1B+ moved annually [0][1].