Stackin’, a text-message based financial advisory platform in the US, has raised $4m in a Series A funding round.
The round was led by Experian Ventures, Dig Ventures, and Cherry Tree Investments. The three were joined by the company’s existing and new investors including Social Leverage, Wavemaker Partners, and Mucker Capital.
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Dig Ventures founder Ross Mason will now join the Stackin’ board.
Stackin’ fundraising : Future plans
Stackin’ plans to use the investment to launch banking and investing features for its messaging platform. It also intends to utilise a section of the funds on user acquisition and operational expansion.
Established in 2017, the company offers personalised guidance to customers through text messages. It also encourages savings, providing insights on how to grow money.
The platform is said to have more than 500,000 users.
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By GlobalDataRecently, Stackin’ introduced free personal high-interest checking account Stackin’ Cash. The service, powered by Radius Bank, offers customers with a 1% APY on the entire deposit balance and access to free ATMs worldwide.
Stackin’ CEO and co-founder Scott Grimes said: “Stackin’ is fundamentally changing the shape and context of what a financial relationship means by creating a fun, inclusive and judgement free environment that empowers our users to learn and take action through messaging.
“This funding allows us to build out new features around banking and investing that will enhance the relationship with our customers.”
