Stash Secures $146 Million to Enhance AI-Powered Financial Guidance Platform

Investing app Stash raises $146m

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Union Square Ventures, StepStone Group, Serengeti, the University of Illinois Foundation, and funds and accounts advised by T Rowe Price Investment Management participated. Stash provides a host of personalised, AI-driven automated investing tools to more 1.3 million paying subscribers with $4.3 billion in assets under management. The latest investment will be used to accelerate product innovation, drive subscriber growth, and further develop Stash's AI capabilities. Central to this strategy is Money Coach AI, a financial guidance platform that translates expert-level investing strategies into real-time, personalised recommendations for everyday users. Brandon Krieg, co-CEO, Stash, says: "For too long, financial advice has been out of reach for everyday people. "Stash's mission has always been to change that. Now, by leveraging the power of AI, Stash is helping people take control of their money, understand their options, build real wealth, and secure their financial future, no matter where they're starting from."

Stash Secures $146 Million to Add AI to Financial Guidance Platform | PYMNTS.com

Stash has secured $146 million in a Series H funding round to deepen its investment in artificial intelligence (AI) for its financial guidance platform. "For a decade, Stash has helped millions take control of their financial futures," Stash Co-Founder and Co-CEO Ed Robinson said in a Monday (May 12) press release. "Now, we're doubling down -- transforming how people save, invest and build long-term wealth with AI-powered intelligence at the core." Stash's platform has 1.3 million paying subscribers and $4.3 billion in assets under management, according to the release. The company said in the release that its recently launched Money Coach AI, a platform that helps customers build savings and start investing, has had 2.2 million customer interactions. One in four customers who interacted with the platform went on to make an investment, deposit funds, diversify or take other positive actions, according to the release. Chi-Hua Chien, founder and managing partner at Goodwater Capital, which led the funding round, said in the release that Stash is "laser-focused on innovation, growth and setting a new industry standard." "Stash isn't just using AI to enhance its platform -- it's using AI to transform how people engage with their money," Chien said. "The company's momentum is undeniable, and we are proud to support this next frontier in FinTech." A growing number of consumers are seeking personal finance advice amid economic headwinds that have left them worried about their financial future, according to the PYMNTS Intelligence and NCR Voyix collaboration, "Navigating Financial Uncertainty: Whose Advice Do Americans Trust?" The report found that 57% of Americans sought personal finance advice in 2023. It also found that among those who have never received financial planning advice, nearly three-quarters are now open to the idea and more than half plan to seek advice in the next three years. DailyPay added a financial wellness tool called "Credit Health" to its earned wage access app in September. Credit Health delivers insights such as credit bureau scores and histories, credit reports, monitoring/alerts and score factors.