Stash Secures $40M in Series C Funding to Meet Massive Demand for Its Investing and Financial Education Platform
NEW YORK, July 13, 2017 /PRNewswire/ Stash, the financial technology platform that's revolutionizing investment and education for all Americans, announced today that it has raised $40 million in Series C funding. The round was led by Coatue Management and existing investors Breyer Capital, Goodwater Capital, and Valar Ventures.
Stash has grown faster than any other investing service in the US and has raised a total of $78 million in less than two years. It's presently servicing over 850,000 accounts, 86% of which are first-time investors. In 2017 alone, Stash added over half a million new investors to its platform, with over 25,000 new customers joining every week.
Stash has empowered a wide range of Americans new to the market, including freelancers, military personnel, and teachers, guiding them onto a path of financial independence. Stash allows its customers to invest in high-quality funds in a safe and secure way, guided by smart, simple, and effective strategies they'll use for life.
This latest round will accelerate Stash's investments in technology and data analytics, to better serve its growing community of investors with more personalization, educational tools, and new products. Stash Retire, a simplified retirement platform, is scheduled to launch this summer for iOS and Android.
"When it comes to investing, too many Americans are standing on the sidelines because they're unsure where and how to begin. Stash is the only investment platform focused on educating and empowering beginner investors," said Brandon Krieg, CEO and co-founder of Stash. "For too long, the financial services industry only made investing accessible to the rich, but at Stash, we believe anyone can become an effective investor with the right tools and education."
Starting with just $5, anyone can sign-up for Stash and choose from over 35 curated investments based on their beliefs, interests, and life goals. Learn, Stash's education platform, provides jargon-busting, easy-to-understand financial education to over 1.5 million content subscribers.
Coatue, an investor in groundbreaking global companies like technology and social media business Snap and China's ride-sharing giant Didi Chuxing, sees Stash as the financial services company for the modern era.
"Stash is disrupting the financial services industry by removing barriers and making investing more approachable and accessible to the 100 million-plus Americans on the sidelines," said Coatue's Founder and Portfolio Manager Philippe Laffont. "Its rapid growth in a short period of time shows that Stash has found a way to transform how Americans manage their money and gain financial independence."
Stash is on a mission to empower a new generation of investors, giving everyone access to financial opportunity. Available on both iOS and Android, Stash breaks down complicated financial language and helps make it easier to start investing. Investors choose from a selection of over 35 curated investments enabling them to build a portfolio that reflects their interests, beliefs, and goals. Stash has a simple and transparent fee model of $1 per month for accounts under $5,000 and 0.25% a year for balances over $5,000. Clients are not charged additional commissions for trading or fees for transferring money in and out of accounts. The first month is free for everyone. Based in New York City, Stash started in February 2015 by Wall Street veterans Brandon Krieg and Ed Robinson. Stash is an SEC Registered Investment Adviser. For more information, visit http://www.stashinvest.com
Coatue Management, L.L.C. is a TMT-focused global asset manager with ~$11B in assets under management and offices in New York, Menlo Park, and China. Since 1999, Coatue has sought to identify the biggest technology trends, including smartphone adoption & the mobile internet, social networking, ride-sharing, and the disruption of incumbent business models across media, advertising, and retail.
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