Stash, one of the fastest-growing financial apps in the US, has secured $65 million in Series E funding. The company did not reveal the list of investors but TechCrunch reports that the round included participation from previous backer Breyer Capital.
Stash is a micro-investing app which has become hugely popular with millennials and first time investors. Alongside the funding round, the company announced the official launch of its mobile-first banking services in partnership with Green Dot Corporation and its subsidiary bank, Green Dot Bank.
As part of the launch, Stash is rolling out a new rewards programme called ‘Stock-Back’, which awards debit card holders with fractional shares of stock in companies they’ve shopped at.
Jim Breyer, founder and CEO of Breyer Capital, said:
“I have invested in and served on the Board of many leading companies, and it’s clear how a program like Stock-Back can power immense brand loyalty.
“The early data shows unequivocally that share ownership drives increased sales and customer appreciation. This innovative new technology from STASH will have CEOs and CMOs knocking on their door.”
Stash will use the Series E funding to increase product growth and propel brand awareness.