Stash raises $125 million

Following a year of “record growth” in 2020, the financing app Stash has announced a $125 million in Series G funding. The round is led by Eldrige, Owl Ventures, T. Rowe Price Associates, Inc., Goldwater Capital, Entrée Capital among others.

After securing over $427 million in total funding and with a mission goal of making long-term investing more accessible, Stash will use this newfound capital to further develop its platform. In the near future, Stash aims to debut their Smart Portfolio’s, a diverse and long-term approach to customer portfolios that will be fully moderated by the company. For customers, this will be part of Stash’s $3/mo Growth and Plus subscription plan.

“Stash’s simple, affordable, and transparent product offers people a better solution to build wealth for the long term,” said Todd Boehly, Chairman and CEO of Eldridge. “The Stash team has achieved remarkable growth and scale. We are excited to support them as they continue to grow and build more tools to help Americans build diversified investment portfolios.”

With over five million customers, the digital financial company saw a 100% increase in account openings in 2020. Via Stash’s Stock-Back Card, a debit card that rewards customers with stock, users saw earnings of up to 23 million in stock awards last year. Stash also saw an increase of up to 50% in the number of consumers willing to automate their investments through the company.

Stash also features a life insurance angle. The startup offers life insurance as part of its Stash Beginner and Stash+ plans, which is provided by Avibra

“We believe in tried and tested principles of regular, long-term, and balanced investing as the key to building wealth. We, therefore, built Stash to make diversified investing easy, affordable, and accessible, backed by personalized advice and accessible education – in order to avoid the pitfalls of short-term speculation and day-trading,” said Brandon Krieg, CEO, and Co-Founder of Stash. “This new round of funding enables us to take this mission to millions more Americans.”