Stash recently revealed a record-breaking year and the company also announced that renowned CFO and advisor Amy Butte as the company’s first-ever independent audit chair. And Stash also announced the infusion of $40 million 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. With new leaders and a new round of financing, Stash enters its next growth phase with a focus on profitability.
Independent audit chair Amy Butte is known as one of the country’s preeminent leaders in financial services, with a proven track record of taking companies public as director, advisor, and CFO, including the historic IPO of the New York Stock Exchange. And her current board slate includes Bain Capital Specialty Finance and DigitalOcean, following seven years on the board of BNP Paribas USA and six years on the Fidelity Strategic Advisers Funds Boards. As both founder and strategic advisor, she has been long focused on engaging and educating the next generation of investors.
Stash’s simple and automatic tools and timely advice change the lives of Americans for the better: Over half of customers, who average $58K in household income, set aside hundreds of dollars in their first year with Stash, and one in five put away over $1,000 in the first six months alone. In August, the company also announced Chien-Liang Chou from Dave and Salesforce as Chief Technology Officer.
Stash’s plans start at $3 per month for access to a set of automated solutions designed to help people find security and peace of mind through investing. Over the past year, the fintech company surpassed $100 million in annual revenue, and counts 2 million active subscribers who have set aside nearly $3 billion due to regular and automatic deposits of $33 on average. Stashers are 15% more financially literate than the average American and depend on Stash for timely education, expert advice, and clear next steps to help them grow their money and achieve lifelong goals.
KEY QUOTES:
“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.”
— 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.”
— Independent audit chair Amy Butte
