Investment app Stash has raised $9.25m in a Series A round of funding to accelerate user growth and build out its technology platform.
The financing was led by Goodwater Capital and Valar Ventures, with Entrée Capital also contributing.
The New York-based company’s app intends to offer anyone access to the US stock markets. Targeting millennials in particular, it allows users to build portfolios based on their beliefs and goals.
“My co-founder Ed and I left our jobs because we believe everyone should have access to financial opportunity,” says CEO Brandon Krieg.
“After a combined 30+ years in the business, we know that Wall Street can be fundamentally unfair to smaller investors and makes it hard for the individual investor to accomplish their goals. We want to create real change – the kind that transforms the financial literacy gap and narrows the vast division of wealth that plagues our country.”
Stash claims more than 150,000 individual investors have created accounts on the platform since its launch in October 2015.
The funding takes the total raised by the company to $13.75m.
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