Stash, a NYC-based mobile investing app, raised $25M in Series B funding.
The round was led by Valar Ventures, with participation from Breyer Capital, Goodwater Capital, and Entrée Capital.
The company, which has raised $9.25m in Series A funding round in August 2016, intends to use the funds to continue to develop new features, services and products including its free educational hub, called Learn.
Co-founded by Brandon Krieg, CEO, and Ed Robinson, Stash provides more than 300,000 customers with an app to invest starting with as little as $5, and to receive ongoing guidance. The mobile platform gives investors the opportunity to choose from a selection of over 30 ETFs (Exchange Traded Funds) based on a model driven by factors including historical performance, expense (fee) ratio, risk profile and asset allocation.
A Registered Investment Adviser, Stash has a 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.