Illustration: Sarah Grillo/Axios
Stash, a New York-based investing and savings platform, raised $112 million in Series F funding led by LendingTree at a valuation north of $800 million.
Why it matters: This reflects confidence that the current economic catastrophe won't prompt the same the formative risk aversion as did the financial crisis, when many young people swore off investing.
- Other investors include T. Rowe Price and return backers Union Square Ventures, Breyer Capital, Goodwater Capital, and Greenspring Associates.
The bottom line: "The average age of a Stash user is 29 and average income is less than $50,000 per year. Users can invest in increments as small as $1, although the average is $28, with flat fees on top of that at $1, $3, and $9 for monthly subscriptions depending on what services you are using," reports TechCrunch.