Stash, a NYC-based investment startup focused in Millennials, secured $9.25m in Series A funding.
The round was led by Goodwater Capital and Valar Ventures with participation from Entrée Capital.
The company intends to use the funds to accelerate user growth and to build out its technology platform.
Started in February 2015 by Wall Street veterans Brandon Krieg and Ed Robinson, Stash provides millenials with an app to invest their money, starting with as little as $5, and receive ongoing guidance from advisors. People choose from a curated selection of ETFs, purchase fractional shares, and can make recurring investments. They can invest in online technology giants such as Apple, Microsoft, Facebook, in companies that stand to benefit from the increasing purchasing power of the Millennial generation such as LinkedIn, Amazon and Ebay, as well as aerospace and defense companies such as United Technologies, Boeing, Lockheed Martin, etc.
Since launching on October 14, 2015, Stash has reached over 150,000 investor accounts and almost 500,000 content subscribers.