New York based consumer finance and savings app raised $112m in a strategic round of funding from LendingTree.
Stash has continued to build capability in addition to savings including retirement, custodial, and more routine banking. As of this month Stash had 4.5m users and $1b in assets under management.
“We are very fortunate to bring together world class investors, to help accelerate Stash’s goal of bringing digital banking, investing plus financial education and advice to the millions of middle class Americans working hard every day to make ends meet,” said Brandon Krieg, Stash cofounder and CEO, in a statement. “This massive group has attempted to make financial progress within a system that simply does not serve their best interests or meet their needs. It’s time for them to reconsider the current financial servicing industry as the ‘status-quo’ and take control of their financial life with the customer-obsessed solutions we provide at Stash.”