Total amount raised
$520 Million
Latest funding date
10/1/2023
Location
Stash has successfully completed 13 funding rounds, with the latest being a Series H round. The company is backed by 17 investors, including notable names like StepStone Group and Goodwater Capital.
Keep reading to explore the intricacies of Stash's fundraising journey and the investors backing this innovative platform.
What Is Stash?
Stash is a private company based in New York, New York, United States. It operates in various industries, including apps, banking, fintech, mobile apps, and personal finance. The company has an employee count ranging from 251 to 500.
Stash develops a personal finance application that combines banking, investing, and advice into one platform. The company has raised funding through multiple rounds, with the latest being a Series H round.
How Much Funding Has Stash Raised?
- Series A
- Amount Raised: USD 9,250,000
- Date: August 2016
- Lead Investors: Goodwater Capital, Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of the Stash app.
- Series B
- Amount Raised: USD 25,000,000
- Date: December 2016
- Lead Investors: Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand user acquisition and enhance app features.
- Series C
- Amount Raised: USD 40,000,000
- Date: July 2017
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve the app's infrastructure.
- Series D
- Amount Raised: USD 37,500,000
- Date: February 2018
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch of new financial products and services.
- Series E
- Amount Raised: USD 73,000,000
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the user base.
- Series F
- Amount Raised: USD 112,000,000
- Date: April 2020
- Lead Investors: LendingTree
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the app's features and improve customer experience.
- Series G
- Amount Raised: USD 125,000,000
- Date: February 2021
- Lead Investors: Eldridge Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansion and strategic initiatives.
- Debt Financing
- Amount Raised: USD 52,600,000
- Date: October 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for growth.
- Convertible Note
- Amount Raised: USD 40,000,000
- Date: October 2023
- Lead Investors: Goodwater Capital, T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the next growth phase with a focus on profitability.
- Series H
- Amount Raised: USD 146,000,000
- Date: May 2025
- Lead Investors: Goodwater Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform and enhance user engagement.
Total Amount Raised: USD 660,350,000. Current Valuation: Not publicly disclosed.
Key Investors
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm focused on early-stage consumer technology companies. They have been a significant investor in Stash, participating in multiple funding rounds.
- Investment Focus Areas: Consumer technology, fintech, mobile apps
- Notable Investments: Musical.ly (now TikTok), Weee!, Toss
- T. Rowe Price Investment Management
- Details: T. Rowe Price is a global investment management firm offering mutual funds, subadvisory services, and separate account management. They led a $40 million funding round for Stash.
- Investment Focus Areas: Mutual funds, separate account management, institutional investments
- Notable Investments: Amazon, Google, Facebook
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm that invests in internet services creating large networks. They have been involved in several funding rounds for Stash.
- Investment Focus Areas: Internet services, network-based businesses, fintech
- Notable Investments: Twitter, Etsy, Coinbase
- Eldridge Industries
- Details: Eldridge Industries is a private investment firm with a diverse portfolio across various industries. They led the Series G funding round for Stash.
- Investment Focus Areas: Media, sports, real estate, insurance, consumer finance
- Notable Investments: Not publicly disclosed
- LendingTree
- Details: LendingTree is an online lending marketplace that connects borrowers with multiple lenders. They led the Series F funding round for Stash.
- Investment Focus Areas: Lending, personal finance, fintech
- Notable Investments: Not publicly disclosed
What's Next for Stash?
Stash is poised to capitalize on the growing demand for automated financial solutions and financial literacy. With over 6 million users and $100 million in annual revenue, the company is well-positioned to scale its operations and enhance its product offerings. The recent $40 million funding round, led by T. Rowe Price Investment Management, will enable Stash to expand its user base and improve app features.
Future fundraising opportunities appear promising, given the company's strong growth metrics and market potential. The strategic appointment of Amy Butte as independent audit chair hints at the possibility of an initial public offering (IPO) in the future. However, Stash will need to navigate challenges such as maintaining profitability while scaling and competing in a crowded fintech market.
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