NEW YORK, June 23, 2021 /PRNewswire/ -- Stash, the subscription platform empowering middle-class America to build wealth through a suite of investing and banking products, today announced the acquisition of PayGrade, a financial literacy platform helping students build healthy financial habits. The addition of PayGrade deepens Stash's commitment to education following its 100% surge in revenue over the past 12 months.
"Stash's first acquisition is directly aligned with our mission of empowering everyday Americans to invest for the future," says Brandon Kreig, CEO and co-founder at Stash. "Forty-three states do not require standalone personal finance courses in high school, and 80% of people live paycheck-to-paycheck. With PayGrade, Stash will provide teachers, parents, and children with interactive tools to learn effective money management skills that will last a lifetime."
PayGrade equips K-12 administrators and teachers with an immersive personal finance curriculum designed around simulated banking and investing. The platform experienced exceptional demand during remote learning. In its next phase of growth under Stash, the business will quickly expand to include digital tools for parents to teach and reinforce money skills at home.
Stash, which raised $125 million in February 2021, has more than 6 million customers and $3 billion in AUM. For as little as $1/month, Stash aims to build long-term, diversified investment portfolios supported by personalized advice and robust educational tools.
"We're thrilled to join Stash," says Janessa Boulay, co-founder of PayGrade. "Together, our platforms will make it possible for millions of children and families to more easily navigate the complex worlds of business, banking, and investing in a safe space—giving the next generation the hands-on education they need to advance and achieve financial equity."
"Financial literacy is a foundational requirement to achieve a stable financial future. With PayGrade's quality curriculum and engaging digital educational tools, Stash will be able to help students acquire critical knowledge and skills in partnership with teachers and parents," says Ian Chiu, Managing Director at Owl Ventures, the largest venture capital firm focused on investments in education and upward mobility, including Stash. "Stash and PayGrade together will help improve the financial lives of students and families in communities all across America."
Parents and teachers interested in learning more or gaining early access to the new home version of PayGrade—which will be called Stash101—can join the waitlist at stash.com/stash101.
Stash is the first subscription platform empowering middle-class Americans to invest and build wealth. Stash's plans—starting at just $1 a month1—provide easy and affordable access to a suite of products including investing, banking2, education, and advice. Stash is one of the fastest-growing financial technology companies in the U.S. with more than 6 million customers.3
1Stash offers three plans, starting at just $1/month. For more information on each plan, visit our pricing page.
2 Bank Account Services provided by Green Dot Bank, Member FDIC.
3 This is not an endorsement or a statement of satisfaction by any Stash client.
This content is for informational purposes only, and should not be construed as tax or legal advice. While Stash 101 is affiliated with Stash Investments LLC ("Stash RIA"), an SEC registered investment adviser, Stash 101 is not an investment adviser and is separate and apart from Stash RIA.