The round was led by Valar Ventures, with participation from Breyer Capital, Goodwater Capital, and Entrée Capital.
The company, which has raised USD 9 million in Series A funding round in August 2016, intends to use the funds to continue to develop new features, services and products including its free educational hub, called Learn.
Co-founded by Brandon Krieg, CEO, and Ed Robinson, Stash provides more than 300,000 customers with an app to invest starting with as little as USD5, and to receive ongoing guidance. The mobile platform gives investors the opportunity to choose from a selection of over 30 ETFs (Exchange Traded Funds) based on a model driven by factors including historical performance, expense (fee) ratio, risk profile and asset allocation.
A Registered Investment Adviser, Stash has a fee model of USD 1 per month for accounts under USD 5,000 and 0.25% a year for balances over USD 5,000. Clients are not charged additional commissions for trading or fees for transferring money in and out of accounts. The first month is free for everyone.
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