Stash, a NYC-based provider of a finance app for people to build diversified investment portfolios, raised $125m in Series G funding.
The round was led by Eldridge, with additional funding from new and existing investors, including Owl Ventures, funds and accounts advised by T. Rowe Price Associates, Inc., Goodwater Capital, Entree Capital, and others.
The company intends to use the funds to grow the team, expand its product offering and its business reach.
Led by Brandon Krieg, CEO and Co-Founder, Stash provides a personal finance app for people to invest easy and affordable. The app subscription plans include access to investment accounts, no-hidden-fee banking with a Stock-Back® Card, a debit card that rewards customers with pieces of stock, enabling them to invest as they spend, as well as budgeting and saving tools, personalized guidance, etc.
The company said that in 2020 they had upwards of five million customers and $2.5 billion in AUM.
Stash is continuously adding new products and features to the platform. In the coming weeks, the company will launch Smart Portfolios, allowing customers to build long-term, diversified portfolios that are fully managed by Stash avoiding the risks of day-trading.