Stackin’ raises $4m for financial advice for millennials
Stackin’, a text-message based financial platform, has raised a $4 million Series A funding round led by Experian Ventures, Dig Ventures, and Cherry Tree Investments, along with participation from new and existing investors including Social Leverage, Wavemaker Partners, and Mucker Capital.
Stackin’ will use the financing to launch banking and investing features for its messaging platform, user acquisition, and to expand its operations.
As part of the fundraising, Ross Mason, founder of Dig Ventures and former founder and CEO of MuleSoft, will join the company’s board of directors.
Stackin’ uses intelligent personalised messaging to help people find ways to improve their finances and grow their money. The company has more than 500,000 users who use the service.
Only one in three millennials have money invested in the stock market according to Bankrate.com and a recent study from PWC found that among the overall population, millennials are the age group with the lowest level of financial literacy.
Stackin’ serves this growing generation of young consumers and helps them start investing, automate their savings and eliminate bank fees.
“Stackin’ has a unique and highly effective approach to connect and communicate with an entire generation of younger consumers around finance,” says Ty Taylor, group president of global consumer services at Experian.
The platform was founded in 2017 and is led by Scott Grimes, CEO, and Kyle Arbaugh, president. Grimes previously founded UPROXX Media, which was acquired by Warner Music Group.