US fintech Stash lands $40m in funding and appoints Amy Butte as independent audit chair
New York-based investment and banking app Stash has raised $40 million in new funding to fuel its “next phase of growth” and announced the appointment of a new independent audit chair.
Stash raises $40m in new funding
The company’s latest raise was led by funds and accounts advised by T. Rowe Price, with additional participation from existing investors including Goodwater Capital and Union Square Ventures.
The round succeeds Stash’s debt funding round of October 2022, when it raised $52 million, and its $125 million Series G of February 2021. The company has now raised more than $500 million since its inception in 2015.
Liza Landsman, the company’s CEO since her appointment in February, says that the new funding will enable Stash to “move even faster to scale while committing to increasing levels of rigor and transparency”.
The firm claims to have surpassed $100 million in annual revenue during the past year, while its latest statement indicates that it has “profitability in sight”.
Amy Butte joins Stash
Stash has also confirmed the appointment of Amy Butte as its new independent audit chair. In her new position, Butte will oversee the financial reporting and auditing of Stash as part of its aforementioned commitment to “rigor and transparency”.
Her professional career extends to a number of high-profile board positions, including for Fidelity Strategic Advisers Funds Board and BNP Paribas USA, and most recently for DigitalOcean and Bain Capital Specialty Finance.
Most notably, she led the transition of the New York Stock Exchange (NYSE) to a for-profit public company in April 2006 during her two-year tenure as its chief financial officer (CFO).
Landsman characterises Butte as “amongst the most accomplished leaders in the financial services space”, and says that her appointment and the latest round of financing are “clear indicators” of the business’s strength.
The company’s movements over the last year notably include the appointment of Chien-Liang Chou as chief technology officer (CTO) in August, and the launch of its self-built core banking system.
