Stash Financial, Inc., or simply Stash, is an American
financial technology
Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...
and
financial services company based in New York, NY. The company operates both a web platform and mobile apps, allowing users to incrementally invest small amounts, commonly known as
micro-investing. It also provides
robo advice. By summer 2017, it had approximately 1 million users. As of July 2020, the number has grown to over 5 million.
History and services
Stash was founded in February 2015 by Brandon Krieg, David Ronick, and Ed Robinson.
It was launched on the
iOS App Store
The App Store is an app store platform, developed and maintained by Apple Inc., for mobile apps on its iOS and iPadOS operating systems. The store allows users to browse and download approved apps developed within Apple's iOS Software Deve ...
in October 2015
and was made available on
Android in March 2016.
In February 2018, the firm raised $37.5 million in a Series D funding in a round led by
Union Square Ventures
Union Square Ventures (USV) is an American venture capital firm based in New York City. The firm has backed more than 130 startups, including Twitter, Etsy, Stripe, Coinbase, Zynga, Tumblr, Stack Overflow, Meetup, Kickstarter, MongoDB, Flur ...
.
In April 2020, it raised another $112 million in a Series F funding in a round led by
LendingTree
LendingTree is an online lending marketplace headquartered in Charlotte, NC. The business platform allows potential borrowers to connect with multiple loan operators to find optimal terms for loans, credit cards, deposit accounts, insurance, et ...
.
Reception
In February 2018,
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...
praised the app's automation and ease-of-use.
Products and services
Stash offers retirement, banking, individual investment, and custodial accounts through a subscription model.
Through the web platform and mobile apps, users can invest as little as $0.01 increments into fractional shares of thousands of stocks
and more than 80
exchange-traded funds
An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the ...
.
Users can invest in personal
brokerage accounts,
retirement accounts,
Roth IRAs,
traditional IRAs, or
custodial accounts.
Stash also offers financial education and automatic investing.
See also
*
Acorns
References
{{DEFAULTSORT:Stash
Financial services companies based in New York City
Financial services companies established in 2015
2015 establishments in New York City
Financial technology companies
Privately held companies based in New York City
American companies established in 2015
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