via fractional shares), a stark contrast to the hundreds or thousands that were needed when investing with traditional online brokers such as E*Trade or Charles Schwab.įurthermore, Stash put an emphasis on educating its users (via tutorials, a guided onboarding process, as well as personalized advice) and making its investment products (here: ETFs) sound personal. Stash allowed its users to invest with as little as $5 (i.e. These were often millennials (with an average age of 29) that had an annual income of about $50,000. First and foremost, Stash knew exactly how their customer demographic looked like. Growth was based on a few key strategic twists the startup employed. By that time, more than 300,000 had already subscribed to the service (with 10,000 more people joining every week). In 2016 alone, the startup was able to raise 3 different rounds of funding, netting them another $37.3 million. Today, he runs Minded, a delivery service for stress-relieving medications.ĭespite the hiccup, interest in Stash remained unfazed. To get a head start, the team raised a $1.5 million angel round from friends, family, their own savings, and a few investors.Īt the time, Ronick was acting as the CEO of Stash but would end up leaving the firm within one year of the launch (and move to an advisory role). The team cleverly built up hype by conducting interviews in various business- and finance-related publications which allowed them to gain early exposure. Over 50,000 people signed up for Stash prior to the launch. In February 2015, the trio started working on an iOS app that launched just 8 months later (a version on Android was released in early 2016). The general sentiment was that the average person had an interest in investing their money but was simply overwhelmed with the supposed complexity that it entailed. The team spent the first few months just talking to people on the streets, asking them about anything related to money management, investing, or saving. David Ronick, who possessed years of experience in launching his own businesses (and even exited a few) joined them as the third co-founder. Two years into their working relationship, the pair decided to team up and launch a business of their own. After stints in Sidney and London, Robinson moved to New York in 2013 where he became acquainted (and ultimately friends) with Krieg. Afterwards, he joined Macquarie where he was tasked with building up the firm’s electronic trading desk function.Īt Macquarie, he met Robinson, who joined the company back in 2005 as a trader. Krieg spent the next 5 years at Knight to help with the integration of EdgeTrade. In 2007, EdgeTrade was acquired by Knight Capital for a combined $59.5 million. Over the next decade, he helped the business to grow, which ultimately led to a successful exit. In 1998, a young Krieg joined an electronic trading company called EdgeTrade as their second hire. Stash, headquartered in New York, was founded in 2015 by Brandon Krieg (CEO), Ed Robinson, and David Ronick.Īll 3 founders brought with them extensive experience in the areas of entrepreneurship and finance before launching Stash. ![]() ![]() Stash is available on mobile, tablet, and smartphone devices on the Android as well as the iOS operating system. Users can then invest their money into thousands of stocks as well as dozens of themed ETFs, such as Match the Market or Foreign Heavyweights. This allows them to offer tailored advice for activities such as budgeting and investing. These are called Stash Beginner, Stash Growth, and Stash+.ĭuring the signup process, Stash will ask various questions to determine a user’s level of risk tolerance as well as financial goals. These features and products are accessible via the various subscription plans that Stash offers. Life insurance (offered in cooperation with Avibra).A so-called Stock-Back card that offers cash back rewards (in the form of stocks) when used at a partners.Investing in various (fractional) stocks and ETFs without any set limits.Some of the features that Stash offers include: Stash is a personal finance application that offers a variety of products for investing and saving purposes.
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