Stash, the subscription platform empowering middle-class America to invest and build wealth, today announced Adriel Lares as its new CFO. Lares, one of the tech industry’s most accomplished financial leaders, will be joining from Fastly, where he has served as CFO for the past five years, including their IPO in 2019.
Additionally, renowned tech leader Jon McNeill will join Stash’s board of directors effective immediately. McNeill, currently CEO and Co-Founder of DVx Ventures and board member at Lululemon, Tekion and CrossFit, served as Lyft’s COO in preparation for its IPO, and was previously recruited by Elon Musk to serve as Tesla’s President of Global Sales & Service during a pivotal period in the company’s history, quintupling revenues during his tenure.
“Stash enjoyed a tremendous year with a new infusion of capital and record growth. We’re laser-focused on our mission to help millions more Americans invest for the future,” says Brandon Krieg, co-founder and CEO of Stash. “Adriel is an exceptional leader with a proven record of achieving highly ambitious goals. Jon is an industry legend, and we couldn’t be happier to benefit from his wisdom and widely acclaimed acumen on our board of directors.”
Lares brings impeccable financial credentials to Stash, having taken two companies through IPOs. When he took Fastly public in 2019, its shares sold at the top of its range. Previous roles include CFO at Lookout and at 3PAR and he currently sits on the board of several organizations, including the National Hispanic Institute and the Haas Center for Public Service at Stanford, his alma mater.
“Stash is paving the way for a new future,” says Adriel Lares. “It’s the first consumer subscription platform dedicated to building middle-class wealth with an emphasis on personalized advice, education and customer experience. It also leads in company culture, attracting the best talent from diverse backgrounds and experiences. I’m thrilled to join and hit the ground running.”
Stash welcomes Lares and McNeill at a time of momentous expansion for the financial tech company. Stash now counts more than 2.1 million active subscribers1 and revenue more than doubled in the past year.2 The company is poised to hit $100M in annualized recurring revenue and announced its $125M Series G in February, led by Eldridge with participation from T.Rowe Price and other strategic investors. Earlier this month, the company acquired PayGrade, a financial literacy platform for children, parents, and teachers to learn money management skills.
About Stash:
Stash is the industry-leading subscription platform empowering middle-class Americans to invest and build wealth. Stash’s plans—starting at just $1 a month3—provide easy and affordable access to a suite of products including investing, banking,4 education, and advice. Stash is one of the fastest-growing financial technology companies in the U.S. with more than 6 million customers.
Media Contact
Sarah Spagnolo
press@stash.com
1As of June 1, 2021. This is not an endorsement or a statement of satisfaction by any Stash client and is defined by the number of clients who are paying subscribers.
2 Data as of June 2021
3Stash offers three plans, starting at just $1/month. For more information on each plan, visit our pricing page.
4Bank Account Services provided by Green Dot Bank, Member FDIC.
Stash does not offer an interest-bearing savings account.
Bank Account Services provided by and Stash Visa Debit Card (Stock-Back® Card) issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association. Stash Banking Account opening is subject to identity verification by Green Dot Bank. Investment products and services provided by Stash Investments LLC, not Green Dot Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.
Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. Investing involves risk and investments may lose value. For more information, please visit www.stash.com.
