Stash raises $40 million

Investing app Stash announced $40 million in new funding led by funds and accounts advised by T. Rowe Price Investment Management, with a mix of strategic and existing investors including Goodwater Capital and Union Square Ventures.

Founded in 2015, Stash offers investing and banking products, claiming to have over 6 million users.

The company has a partnership with Avibra, offering subscribers of some plans complimentary life insurance up to $10k.

Stash also announced that Amy Butte was appointed as the company’s first-ever independent audit chair. Butte has “a proven track record” of taking companies public as director, advisor, and CFO.

“The addition of Amy, who is amongst the most accomplished leaders in the financial services space, plus a new round of financing from marquee investors, are clear indicators of the strength of Stash’s business. It also signals our widely ambitious future. We will move even faster to scale while committing to increasing levels of rigor and transparency—all in service of supporting our millions of customers. Profitability, and the flexibility it provides, is within reach.” – Stash CEO Liza Landsman.

“Stash uniquely combines financial services and tech to create real value for its customers, in all the right ways. With its scale and differentiated business model, the possibilities for Stash are vast and extremely exciting. I’m thrilled to join Liza and the rest of the board to help ready the organization for the future.” – Amy Butte.