Stash Financial, Inc., or Stash, is an American
financial technology
Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...
and
financial services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...
company based in New York, NY. The company operates both a
web platform
The Web platform is a collection of technologies developed as open standards by the World Wide Web Consortium and other standardization bodies such as the Web Hypertext Application Technology Working Group, the Unicode Consortium, the Internet Engi ...
and
mobile apps
A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on d ...
, allowing users to incrementally invest small amounts, commonly known as
micro-investing
Micro-investing is a type of investment strategy that allows individuals to invest small amounts of money regularly over time.
Background
Micro-investing is designed to make investing more accessible and affordable, especially for those who may ...
. It also provides
robo advice.
History
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 marketplace developed and maintained by Apple, 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 SDK. Apps can be download ...
in October 2015
and made available on
Android in March 2016.
By summer 2017, Stash had approximately 1 million users.
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, ...
.
In April 2020, it raised another $112 million in Series F funding in a round led by
LendingTree
LendingTree, Inc. is an online lending marketplace, founded in 1996 and headquartered in Charlotte, North Carolina. The business platform allows potential borrowers to connect with multiple lender, loan operators to find optimal terms for loans, ...
.
As of July 2020, Stash's user base had grown to over 5 million customers.
Reception
In February 2018,
CNBC
CNBC is an American List of business news channels, business news channel owned by the NBCUniversal News Group, a unit of Comcast's NBCUniversal. The network broadcasts live business news and analysis programming during the morning, Day ...
praised the app's automation and ease-of-use.
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 in fractional shares of thousands of stocks
and more than 80
exchange-traded funds
An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, Bond (finance), bonds, currencies, debts, futures contracts, and ...
.
Users can invest in personal
brokerage accounts,
retirement accounts,
Roth IRAs,
traditional IRAs, or
custodial accounts.
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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