Total amount raised
$520 Millions
Latest funding date
Location
Stash has successfully raised significant funding through multiple rounds, with notable investors such as T. Rowe Price and Union Square Ventures. The platform integrates banking, investing, and financial advice into a single, user-friendly application.
Keep reading to explore the intricacies of Stash's fundraising journey and the investors backing this innovative platform.
What Is Stash?
Stash, founded on February 19, 2015, is a personal finance application based in New York, New York. The platform integrates banking, investing, and financial advice into a single, user-friendly application.
Founded by Brandon Krieg, David Ronick, and Ed Robinson, Stash aims to simplify financial management for its users. The company offers services like personal investment accounts, retirement accounts, and custodial accounts for minors.
With a team of 251-500 employees, Stash continues to grow and innovate in the fintech space, making financial planning accessible to a broader audience.
How Much Funding Has Stash Raised?
- Seed Round
- Amount Raised: $3M
- Date: February 2016
- Lead Investors: Goodwater Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the app and launch it to the market.
- Series A
- Amount Raised: $9.3M
- Date: August 2016
- Lead Investors: Goodwater Capital, Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance app features.
- Series B
- Amount Raised: $25M
- Date: December 2016
- Lead Investors: Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve customer acquisition strategies.
- Series C
- Amount Raised: $40M
- Date: July 2017
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To introduce new features and expand the team.
- Series D
- Amount Raised: $37.5M
- Date: February 2018
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and increase market penetration.
- Series E
- Amount Raised: $73M
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To introduce new features and target millennials.
- Series F
- Amount Raised: $112M
- Date: April 2020
- Lead Investors: LendingTree
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Stash's platform and expand its user base.
- Series G
- Amount Raised: $125M
- Date: February 2021
- Lead Investors: Eldridge Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand business reach.
- Debt Financing
- Amount Raised: $52.6M
- Date: October 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and strategic initiatives.
- Convertible Note
- Amount Raised: $40M
- Date: October 2023
- Lead Investors: T. Rowe Price, Goodwater Capital, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To focus on profitability and scaling operations.
Stash has raised a total of $517.4M. The current valuation is not publicly disclosed.
Key Investors
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm focused on early-stage consumer technology companies. They aim to invest in companies that are transforming the lives of consumers around the world.
- Investment Focus Areas: Consumer technology, early-stage startups, transformative consumer products.
- Notable Investments: Musical.ly, KakaoTalk, Weee!
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors. They are known for their long-term investment approach and extensive research capabilities.
- Investment Focus Areas: Public and private companies, mutual funds, separate account management.
- Notable Investments: Tesla, Amazon, Facebook.
- Eldridge Industries
- Details: Eldridge Industries is a private investment firm with a diverse portfolio that includes insurance, asset management, technology, sports, media, real estate, and consumer lending. They focus on building and growing businesses across various sectors.
- Investment Focus Areas: Insurance, asset management, technology, sports, media, real estate, consumer lending.
- Notable Investments: DraftKings, Security Benefit, Maranon Capital.
- LendingTree
- Details: LendingTree is an online lending marketplace that connects borrowers with multiple lenders, banks, and credit partners. They offer a range of financial services including mortgages, personal loans, and credit cards.
- Investment Focus Areas: Financial services, technology, online lending.
- Notable Investments: CompareCards, MagnifyMoney, Student Loan Hero.
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm that invests in early-stage technology companies. They focus on companies that leverage the power of the internet to reshape markets and create large networks.
- Investment Focus Areas: Internet services, mobile, web-based applications.
- Notable Investments: Twitter, Etsy, Tumblr.
What's Next for Stash?
Stash is poised to capitalize on the growing trend of digital investment platforms, particularly those targeting millennials. With over 6 million users and a recent $40 million funding round, the company is well-positioned to scale its operations and enhance its platform. The appointment of Amy Butte, who has experience in taking companies public, suggests potential future opportunities for an IPO.
Future fundraising opportunities seem promising, given the involvement of high-profile investors like T. Rowe Price and the company's strong growth trajectory. However, Stash will need to navigate challenges such as maintaining profitability while scaling and competing with other fintech companies. Ensuring regulatory compliance and transparency will also be crucial as the company continues to grow.
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