Stash (company)

Last updated

Stash Financial, Inc.
Company type Private
Industry Financial technology
FoundedFebruary 2015;10 years ago (2015-02)
Founder
  • Brandon Krieg
  • Ed Robinson
  • David Ronick
Headquarters
New York City, New York
,
United States
Products Investment management, investment portfolios, stock portfolios, stock trading
AUM Increase2.svg $2 billion (2020) [1]
Website www.stash.com

Stash Financial, Inc., or Stash, is an American financial technology 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. [2] [3] It also provides robo advice.

Contents

History

Stash was founded in February 2015 by Brandon Krieg, David Ronick, and Ed Robinson. [4] [5]

It was launched on the iOS App Store in October 2015 [6] [7] and made available on Android in March 2016. [8]

By summer 2017, Stash had approximately one million users. [9]

In February 2018, the firm raised $37.5 million in a Series D funding in a round led by Union Square Ventures. [10] In April 2020, it raised another $112 million in Series F funding in a round led by LendingTree. [1]

As of July 2020, Stash's user base had grown to over five million customers. [11]

Reception

In February 2018, CNBC praised the app's automation and ease of use. [12]

Services

Stash offers retirement, banking, individual investment, and custodial accounts through a subscription model. [11]

Through the web platform and mobile apps, users can invest as little as $0.01 in fractional shares of thousands of stocks [6] and more than 80 exchange-traded funds. [12] [13] Users can invest in personal brokerage accounts, retirement accounts, Roth IRAs, traditional IRAs, or custodial accounts. [14] [15]

See also

References

  1. 1 2 Shome, Arnab (April 30, 2020). "Stash Banks $112 Million in LendingTree-Led Funding Round". Finance Magnates. Retrieved October 10, 2020.
  2. ↑ "The Innovators – Meet the 65 Companies and Their Owners Who Have Conjured Up the Latest Wave of Products, Services, and Technologies". money.cnn.com. May 1, 2001. Retrieved 2023-04-20.
  3. ↑ Lucchetti, Aaron. "E-Tailers Allow Buyers to Add Fund Investments to Carts". WSJ. Retrieved 2023-04-20.
  4. ↑ Elkins, Kathleen (October 21, 2016). "Wall Street vets left 6-figure jobs to launch an app that makes investing easy". CNBC . Retrieved September 21, 2018.
  5. ↑ Noto, Anthony (12 February 2018). "Investment app Stash secures $37.5 million funding round". New York Business Journal. Retrieved February 9, 2019.
  6. 1 2 Long, Heather (16 October 2015). "How to get started investing...for $5". CNN Money. Retrieved February 9, 2019.
  7. ↑ del Castillo, Michael (14 October 2015). "50,000 people on waitlist for app that lets Millennials invest in their beliefs". New York Business Journal. Retrieved February 9, 2019.
  8. ↑ McAlone, Nathan (31 March 2016). "Stash is an app that says millennials want to invest based on 'values,' and it's now available on iOS and Android". Business Insider. Retrieved February 9, 2019.
  9. ↑ Barzilay, Omri (November 9, 2017). "Stash To Build Banking App "For All Americans"". Forbes . Retrieved September 21, 2018.
  10. ↑ Perez, Sarah (12 February 2018). "Simplified investing app Stash raises $37.5 million Series D as it heads into banking". TechCrunch . Retrieved February 9, 2019.
  11. 1 2 Loudenback, Tanza (July 15, 2020). "A financial app with over 5 million users says retirement account sign-ups have surged during the pandemic — especially among people 65 and up". Business Insider . Retrieved October 10, 2020.
  12. 1 2 Elkins, Kathleen (16 February 2018). "I used an investing app for the first time and it made for the easiest $300 I ever saved". CNBC Make It. Retrieved February 9, 2019.
  13. ↑ McAlone, Nathan (February 9, 2019). "Stash is an app that says millennials want to invest based on 'values,' and it's now available on iOS and Android". Business Insider. Retrieved February 9, 2019.
  14. ↑ O'Shea, Arielle; Coombes, Andrea (January 3, 2019). "Stash Review 2019". NerdWallet .
  15. ↑ Bahney, Anna (20 February 2018). "How to keep your kids from being ignorant with money". CNN Money . Retrieved February 9, 2019.
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