October 8, 2024, New York, NY – Stash, the pioneering financial subscription platform, announces today that Co-Founders Brandon Krieg and Ed Robinson are returning to the helm as Co-CEOs to unleash its latest innovation as well as to drive massive growth among hardworking Americans who come to Stash to save and invest.
In the past two years, Stash achieved milestone financial achievements rooted in business transformation. The company successfully opened up new channels, including the launch of StashWorks; achieved 80% gross margin; and successfully achieved EBITDA positive for the first time in company history.
Building on these world-class operational accomplishments, the Co-Founders will return to lead the company as it continues to deepen its investment in modernizing the platform. Stash’s Money Coach—an AI powered personalized financial guidance platform developed by Krieg and Joel Parrish, Head of AI and Innovation, over the course of the last year—leverages advanced technology to provide personalized, always-on financial support across all parts of a customer’s experience, and end-to-end compliance supervision and training system to deliver continuous improvement and oversight. Currently live in beta, Money Coach will soon expand to serve millions of customers, helping them navigate their unique financial journeys with tailored next steps and insights.
Subscribers using Money Coach are already experiencing success, with significantly increased engagement in features like Auto-Stash and Smart Portfolio, while also exploring premium benefits such as Stock-Back and a deeper understanding of their usage of Stash.
“We will continue to push the boundaries of democratizing access to financial services for our customers,” said Co-CEO Brandon Krieg. “The future of money and financial guidance is in generative AI, and what’s on the horizon for Stash is a new way of building and modernizing Stash that starts at onboarding and continues through every customer touchpoint to serve our growing base. It’s monumental for the business, our employees, and most importantly, for millions of customers.”
“Our sticky platform allows our customers to save, build wealth, and benefit from equity returns,” said Co-CEO Ed Robinson. “After one year as a venture investor and also sitting on the Stash Board, I clearly see the tremendous differentiators built into our tools and core behaviors. We are excited to unleash rapid growth built on these insights and new technical feats.”
The proactive guidance and engagement provided by Money Coach unlocks a flywheel of consumer behavior that drives increased engagement, retention, saving, and investing. Stash plans to add Money Coach agents to both the front- and back-end of the platform, delivering on the promise of speed and personalization for employees as well as millions of subscribers.
Stash has a long history of ground-breaking engineering and software advancements. Stash was an originator of fractional share investing in 2015; it also transformed debit rewards in 2019 with its patented Stock-Back® Debit Card1; and recast business margins, speed, and flexibility when it launched its own banking infrastructure, Stash Core, in 2022.
About Stash:
Stash is a financial platform dedicated to empowering people to invest and build better lives. Stash’s plans—starting at just $3 a month—unlock access to a suite of simple, automated solutions designed to help people find security and peace of mind through saving and investing. The company’s full suite of products and services include StashWorks, a financial wellness benefit for employers that provides guidance and easy access to short- and long-term saving; the Stock-Back® Debit Card, delivering up to 3% Stock-Back on everyday purchases1; and its Managed Account, which was named as a top-performing robo-advisor by Condor Capital in 20232. Stashers save more than $900 in the first year when they Auto-Stash3 and rely on Stash for timely education, expert advice, and clear next steps to help them grow their money and achieve lifelong goals.
