Aug 17, 2016
Letter from CEO to Stash Investors
Dear Stash Investors,
When I quit my job on Wall Street, I had that feeling you get the night before you start a big adventure. My partners and I were excited to find out what it would actually look like when Stash was in the hands of real people.
Over my 20 year career, I learned that many Americans simply don’t invest. I saw that Wall Street made it difficult for people to start, by keeping the investing world confusing, expensive, and intimidating. I knew there was something fundamentally wrong with that, and I hoped Stash would be that solution. What I didn’t know was that you’d take Stash and ignite a movement.
And that’s precisely why we’re excited about what’s happening in this community. Every single one of you represent something bigger than a single investor changing his or her financial future. You’re part of a group of people that are diversifying the investing world. You’re bringing a fresh, new perspective and you’re proving that you don’t have to change who you are in order to invest.
My favorite part of the day is talking to members of the Stash community—Uber drivers, men and women of our military, artists, teachers, and entrepreneurs. People like you, your friends and your peers around the country. And there’s one thing that gets me every time. It’s when someone says, “I never realized that I could actually become an investor. Not just have a service pull money out of my account and do something fancy with it behind the scenes, but actually do it myself. I just didn’t think that was possible. And I feel really good about it.”
That’s why I’m excited to announce that we just closed another round of funding—our Series A (you can read about it here). We raised $9.25 million, which means that our business is growing and people are watching. Eyes are on this movement and what it means for the world of finance.
Here’s what we’re going to do with the funding: We’re going to grow and continue to reach more people. We’re going to build new features for you, and continue to improve the Stash experience. We’ll infuse the app with educational content, designed to build your investing confidence and financial literacy. We’re going to expand our account offerings, tools within the app and investment opportunities to meet your needs—you started with a personal account, and we’re going to work hard to provide other types of accounts so you can meet your family’s goals as well.
And above all, we’re going to continue to put your needs, and the needs of the Stash community first. Because that’s what financial companies are supposed to do.
You’ve known this all along—it’s not Wall Street’s world. It’s yours. You’re part of a movement, and there’s no stopping you now.
CEO & Co-Founder
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