Stash, a NYC-based financial platform for customers to invest and save, raised $37.5m in Series D funding.
The round was led by Union Square Ventures, with participation from existing investors Breyer Capital, Coatue Management, Entree Capital, Goodwater Capital and Valar Ventures.
The company intends to use the funds to continue to accelerate product innovation.
Launched in October 2015 by Wall Street veterans Brandon Krieg and Ed Robinson, Stash provides customers with education, tools and guidance to simplify and optimize spend, save and invest their money. The Invest suite of products allows people to choose from a selection of over 40 curated ETFs to build personalized portfolios that reflect their investing interests and beliefs, as well as savings goals.
The company currently serves over 1.7 million clients and 5 million subscribers, with approximately 40,000 new clients joining weekly.
The latest releases include:
– Custodial Accounts, which allow Stash clients to open new investing accounts for minors,
– Smart-Save, which helps clients save money by studying individual spending and earning patterns to determine when a person has spare cash, and
– Stash Coach, which provides dynamic recommendations to help clients improve their financial life and maintain a balanced portfolio.