Stoa Raises $2.4M to Reinvent Cash Deposits With Upfront Brand Rewards

UK fintech Stoa has closed a $2.4M pre-seed round to scale its cash management platform, which lets consumers and businesses earn upfront rewards from partner brands on fixed-term deposits — rather than waiting on interest. The round was co-led by Bespokeist Partners and Ingenii Capital, with the startup eyeing expansion into the US.

UK fintech Stoa has raised $2.4 million in pre-seed funding to grow its cash management platform — one that replaces traditional interest-only savings with upfront rewards from partner brands.

Who Backed It

The round was co-led by Bespokeist Partners and Ingenii Capital, with additional participation from Force Over Mass Capital and Fuel Ventures. Notable angel investors include:

Suneel Hargunani, formerly of Citi
Rachel Sestini, partner at Shaw Gibbs Group and co-founder of Canopy Capital
Other senior executives from across the financial services sector

How the Platform Works

Stoa combines behavioural finance, embedded banking infrastructure, and merchant partnerships to connect financial institutions, brands, and end customers.

Users deposit funds into fixed-term "Stoa Pots" and receive upfront rewards from partner brands — rather than waiting for interest to accrue. Eligible deposits are held with regulated banking partners and protected under the Financial Services Compensation Scheme (FSCS).

The platform is now live in the UK for both consumers and businesses.

The Market Opportunity

Stoa is targeting a substantial pool of underutilised capital. According to the company:

More than £600 billion sits in low-yield or non-interest-bearing UK consumer accounts
More than £250 billion is held in SME cash reserves

These figures underline why an alternative model — pairing fixed-term deposits with tangible consumer incentives — could find a receptive audience.

"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. Stoa is creating a new experience around idle cash by offering customers upfront rewards while keeping eligible deposits protected through regulated banking infrastructure." — Mike Saraswat, Co-founder and CEO, Stoa

What's Next

The fresh capital will fund product development, partnership growth, and US market expansion. Stoa says it is already building relationships with financial institutions and merchants in the US ahead of a planned launch there.