US-based online financial services marketplace LendingTree has made a strategic investment in financial technology company Stash Financial.
The investment is part of Stash Financial’s $112m Series F funding round, which is led by LendingTree.
Other participating investors include T. Rowe Price, Breyer Capital, Goodwater Capital, Greenspring Associates, and Union Square, to name a few.
LendingTree has initially made an investment of $80m back in February 2020.
LendingTree founder and CEO Doug Lebda said: “With LendingTree’s customer reach, marketing breadth, and comprehensive credit and debt offerings, and Stash’s focus on education and advice around saving and investing, we can help the consumer and each other.”
LendingTree’s CFO J.D. Moriarty said: “LendingTree and Stash will work together to help millions of consumers.
“Their savings and investment products will resonate with our consumer base, and we’ll bring them the most comprehensive marketplace for financial solutions, so Stash customers can afford more and protect their futures.”
Stash co-founder and CEO Brandon Krieg said: “We’re confident that LendingTree’s experience and success in delivering customer-first financial solutions will have a powerful impact on our ability to reach even more people who need a better way to save and invest.”
The latest investment reportedly brings Stash’s valuation to more than $800m.
Launched in 2015, Stash has assisted over 4.5 million Americans to manage their finances, avoid fees, and achieve their financial goals.
The company offers all-in-one subscriptions which include personal investment accounts, traditional and Roth IRAs, custodial investment accounts, banking services, checking accounts and debit cards.