Stackin’, a Los Angeles, CA-based text-message based financial platform, raised $4m in Series A funding.
The round was led by Experian Ventures, Dig Ventures, and Cherry Tree Investments, with participation from new and existing investors including Social Leverage, Wavemaker Partners, and Mucker Capital. As part of the fundraising, Ross Mason, founder of Dig Ventures and former founder and CEO of MuleSoft, will join Stackin”s Board of Directors.
The company will use the funds to launch banking and investing features for its messaging platform, user acquisition, and to expand its operations.
Founded in 2017 and led by Scott Grimes, CEO, and Kyle Arbaugh, President, Stackin’ uses intelligent personalized messaging to enable millennials to start investing, automate their savings and eliminate bank fees. By engaging members over text message, the platform allows members to start a financial conversation and gain access to products.
The company, which has more than 500,000 users who use the service, recently introduced Stackin’ Cash, a free personal high-interest checking account.