StashAway has completed a US$12 million Series B funding round, led by Eight Road Ventures, the proprietary investment arm of Fidelity International and one of the earliest investors in Alibaba.

Here’s a look at the significance of StashAway’s recent funding:

Funds raised will be used for international expansion and aggressive product development

A quote from Michele Ferrario, Co-founder and CEO of StashAway: “The financial backing from Eight Roads Ventures, one of the earliest investors in Alibaba, alongside the continued support of Asia Capital & Advisors, will accelerate additional investment product development for our clients in Singapore and Malaysia, while also supporting new market entry expansion throughout the APAC region and doubling down on financial education content development and distribution.

A quote from Raj Dugar, Managing Partner Asia at Eight Roads Ventures: “The disjointed Southeast