On the heels of a solid year for Stash, the fintech announced the CFO and advisor Amy Butte as its independent audit chair.
The company also announces “the infusion of $40 million led by funds and accounts advised by T. Rowe Price Investment Management, Inc., with a mix of strategic and existing investors including Goodwater Capital and Union Square Ventures.”
Bolstered by new leaders and a new round of financing, Stash enters “its next phase of growth with profitability in sight.”
CEO Liza Landsman said:
“The addition of Amy, who is amongst the most accomplished leaders in the financial services space, plus a new round of financing from marquee investors, are clear indicators of the strength of Stash’s business. It also signals our widely ambitious future. We will move even faster to scale while committing to increasing levels of rigor and transparency—all in service of supporting our millions of customers. Profitability, and the flexibility it provides, is within reach.”
Independent audit chair Amy Butte is reportedly “one of the country’s preeminent leaders in financial services, with a proven track record of taking companies public as director, advisor, and CFO, including the historic IPO of the New York Stock Exchange.”
Her current board slate “includes Bain Capital Specialty Finance and DigitalOcean, following seven years on the board of BNP Paribas USA and six years on the Fidelity Strategic Advisers Funds Boards. As both founder and strategic advisor, she’s long focused on engaging and educating the next generation of investors.”
Stash offers automatic tools and advice aimed to “change the lives of Americans for the better: More than half of customers, who average $58K in household income, set aside hundreds of dollars in their first year with Stash, and one in five put away over $1,000 in the first six months alone.”
In August, the company announced Chien-Liang Chou “from Dave and Salesforce as Chief Technology Officer.”