Stackin’ raises $12.6 million
Stackin', a text message based financial platform, announced it has raised a $12.6 million Series B funding round led by Octopus Ventures, along with participation from new and existing investors including Experian Ventures, Cherry Tree Investments, Dig Ventures, Mucker Capital, Unlock Venture Partners, TechStars and Wavemaker Partners.
Founded in 2017, the California-based startup is on a mission to empower a generation of younger consumers with a simple and personalized way to reach their financial goals. Through text messages, Stackin’ provides subscribers with various ways to save money, reduce debt and start investing. To date, over 100 million text messages were sent to over one million subscribers.
With this funding, Stackin’ will expand its marketplace which currently offers deposit, checking and investing products to include credit cards, loans and insurance. The marketplace will continue to be curated around products and services that are “most beneficial to the Stackin’ subscriber.” The startup is also planning to launch in the UK later this year.
“For those of us living in big cities, exposed to lots of advertising, it’s easy to forget that large parts of the population are unaware of the range of financial services available to them, often those with better service and superior value. Stackin’s mission is all about increasing access to financial products and it’s clear that this has resonated with millions in the US across a broad demographic. With its deep fintech expertise and array of direct to consumer offerings, the opportunity for expansion in the UK is just as exciting, and we look forward to helping Scott and the team make this a reality.” – Marieke Christmann, Principal at Octopus Ventures.
“This funding allows us to provide our current users a more personalized and connected experience, expand and enhance our partnerships and continue our rapid growth. We’re thrilled to partner with Octopus Ventures to support our vision to create an entirely new type of financial relationship with the next generation of consumers.” – Scott Grimes, CEO and cofounder of Stackin’.
Bottom Line: you can partner with Stackin’ here.
