Stash Banks $112 Million in LendingTree-Led Funding Round

Stash, a New York-based , has raised $112 million in a Series F funding round, taking the total investment into the company to over $300 million.
Led by LendingTree, the financing round was participated by Breyer Capital, Goodwater Capital, Greenspring Associates, and Union Square Ventures, and funds were advised by T Rowe Price Associates. Many were existing investors in the startup.

“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,” Brandon Krieg, CEO of the startup, said in a statement.
Making small investments at a time
Though the startup did not reveal the recent valuation of the company, PitchBook data shows that it is currently valued at around $812 million. Notably, after the initial closure of the $85 million Series F round of Stash, it was valued at $785 million.
Stash was established as a micro-financing platform, but soon expanded its services in banking, investing, advice, and technology. According to the company, 4.3 million users have taken its monthly subscription ranging between $1 to $9.
The startup has more than $1 billion in assets under management (AUM) mainly fueled by merely $28 one-time investments.
The company also highlighted that the was significant as many companies are now struggling due to the ongoing pandemic.
The discussion between Stash and its investors initiated before the outbreak of the Coronavirus.
“[The American middle class] 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,” Krieg added.

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