Investment app Stash generates another $40m in series C round
Stash, the online investment app that allows customers to invest in exchange-traded funds for as little as $5, has raised a further $40m in a series C funding round. The fresh capital has boosted investment in the New York company to $78m. The service is popular with millennials and freelancers, and there are plans to launch a retirement scheme later this year. The company said it will use the financial injection to develop its technology and analytics.

Stash, a NYC-based fintech investment and education platform, raised $40m in Series C funding.

The round was led by Coatue Management and existing investors Breyer Capital, Goodwater Capital, and Valar Ventures.

The company, which has raised a total of $78m in less than two years, intends to use the capital to accelerate investments in technology and data analytics, to better serve its community with more personalization, educational tools, and new products.

Started in February 2015 by Wall Street veterans Brandon Krieg and Ed Robinson, Stash allows its customers, including freelancers, military personnel, and teachers, to invest in funds in a secure way, guided by smart and effective strategies.

The company, which is to launch Stash Retire, a simplified retirement platform for iOS and Android, this summer, is presently servicing over 850,000 accounts, 86% of which are first-time investors. In 2017 alone, it added over half a million new investors to its platform, with over 25,000 new customers joining every week.

Stash is an SEC Registered Investment Adviser.

FinSMEs

13/07/2017