Stash, a U.S.-base micro investment mobile app, has raised $65 million through its Series E funding round. Founded in 2015, Stash describes itself as a digital-first financial services company committed to making saving and investing accessible to everyone. The company explained:
“ By breaking down barriers and building transparent, technology-driven products, we help the 99% build smarter financial habits so they can confidently save more, grow wealth, and enjoy life. We’re one of the fastest growing consumer investing apps in the world. We do not adopt, endorse, or guarantee the accuracy of content posted by others, and such content does not represent our views. The Information presented in this profile is offered for recruiting purposes only and should not be used for any other purpose.”
According to TechCrunch, Stash has not revealed much details about the investment round, including who participated. Along with the investment, Stash has also launched Stock-Back, which is a proprietary rewards program that lets customers earn stock when they spend on qualifying purchases with their Stash debit card. The company shared:
“The key differentiator is that other rewards programs dish out points or airline miles to users—points or airline miles that typically expire after a predetermined period of time. Stock, on the other hand, is an asset that has no expiration date, and should appreciate with time. Plus, your airline miles and credit card points won’t offer you dividends that can help you boost your investment account. Remember, though, that stocks aren’t risk-free investments. Your stock can lose value, just as it can appreciate. Now you can build your investment portfolio whenever you spend. Get started by signing up for Stash.”
Speaking about the new program, Co-founder and President of Stash, Ed Robinson, added:
“80% of Americans are living paycheck-to-paycheck. Stock-Back is our way of utilizing STASH’s smart, patent-pending technology to help people build better financial habits and invest in their future. Our ability to give customers the opportunity to save and build portfolios that mirror their spending behavior and preferences is incredibly powerful.”
