Save® takes on first institutional investors to fund its growing B2B business as global demand for yield accelerates
HOUSTON, Dec. 7, 2022 /PRNewswire/ -- Save®, a fintech company that helps clients earn higher yields on their spending and savings, announces the successful closure of a funding round led by BNP Paribas, Europe's leading financial institution. Joining BNP Paribas in the round is Webster Bank, a leading commercial bank in the Northeast who has partnered with Save on its Market Savings account.
- Save is answering this unmet need with its Market Savings product that enables market-based returns while maintaining FDIC insurance.
- Michael Nelskyla,CEOatSave,commented,"We're delighted that BNP Paribas and Webster Bank have joined as investors in Save.
- Savewillutilize thefundsraised toscale 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.
- BNP Paribas' investment in Save further demonstrates our commitment to market innovation that responds to demand for dynamic client solutions.