Fintech startup Stoa has raised $2.4m (£1.8m) in pre-seed funding to accelerate the growth of its cash management platform, which enables consumers and businesses to unlock upfront lifestyle and business value from idle cash deposits.
Stoa combines behavioural finance, embedded banking infrastructure and merchant partnerships to create a new distribution and engagement layer between financial institutions, brands and customers.
Customers can place deposits into fixed-term ‘Stoa pots’ and receive upfront perks and benefits from partner brands, rather than relying solely on traditional interest models. Deposits are held with regulated banking partners and eligible funds are protected under the FSCS protection scheme.
Stoa is also already growing partnerships and strategic conversations across the US alongside its UK expansion.
The round was co-led by Bespokeist Partners and Ingenii Capital, with participation from Force Over Mass Capital and Fuel Ventures and senior financial services angels including Suneel Hargunani, formerly of Citi, Rachel Sestini, partner at Shaw Gibbs group and cofounder of Canopy Capital, and other leaders from global institutions.
John Mountain, former CEO and cofounder of Starling Bank, has recently joined Stoa as an advisor, supporting product innovation and growth across financial institutions and merchant distribution.
“The future of cash management is not just about interest rates – people want choice, tangible value and a clearer sense of how their money is working for them,” says Mike Saraswat, cofounder and CEO of Stoa.
“Stoa is creating a new experience around idle cash – one that rewards customers upfront while keeping eligible deposits protected through regulated banking infrastructure. For financial institutions, Stoa helps attract larger deposits for longer. For merchants, it helps reduce churn, deepen customer loyalty, and lower reliance on card processing fees.”
