CHARLOTTE – LendingTree is making a big bet on New York startup Stash, which focuses on helping investment services to some 4.5 million customers.
The Charlotte-based financial firm invested $80 million to lead a $112 million Series F round of backing for Stash. And some high-profile firms also participated: T. Rowe Price, Breyer Capital, Goodwater Capital as well as others.
Stash has some $1 billion under management.
The company says it will use the funding to continue expanding its customer base, marketing and adding more services.
LendingTree calls Stash “one of the fastest-growing banking and investing services in the U.S.”
“LendingTree has become increasingly focused on the asset side of the consumer’s balance sheet, and Stash is a pioneer in that space,” said Doug Lebda, founder and CEO of LendingTree. “Stash is fiercely pro-consumer in both its product offering and mission, and we see countless synergies between our organizations. With LendingTree’s customer reach, marketing breadth, and comprehensive credit and debt offerings, and Stash’s focus on education and advice around saving and investing, we can help the consumer and each other. We couldn’t be more confident in our decision to invest in this business and its talented team.”
LendingTree said it made the $80 million investment on Feb. 28.
