The deal will deliver free financial education for millions and marks the company’s first acquisition following record growth
Stash, the subscription platform empowering middle-class America to build wealth through a suite of investing and banking products, announced the acquisition of PayGrade, a financial literacy platform helping students build healthy financial habits. The addition of PayGrade deepens Stash’s commitment to education following its 100% surge in revenue over the past 12 months.
“Stash’s first acquisition is directly aligned with our mission of empowering everyday Americans to invest for the future,” says Brandon Kreig, CEO and co-founder at Stash. “Forty-three states do not require standalone personal finance courses in high school, and 80% of people live paycheck-to-paycheck. With PayGrade, Stash will provide teachers, parents, and children with interactive tools to learn effective money management skills that will last a lifetime.”
Read More: Daily Fintech Series Roundup: Top Fintech News, Analytics and Insights
PayGrade equips K-12 administrators and teachers with an immersive personal finance curriculum designed around simulated banking and investing. The platform experienced exceptional demand during remote learning. In its next phase of growth under Stash, the business will quickly expand to include digital tools for parents to teach and reinforce money skills at home.
Stash, which raised $125 million in February 2021, has more than 6 million customers and $3 billion in AUM. For as little as $1/month, Stash aims to build long-term, diversified investment portfolios supported by personalized advice and robust educational tools.
Read More: i2c Becomes First Company to be a Visa Fintech Fast Track Member in Four Regions
“We’re thrilled to join Stash,” says Janessa Boulay, co-founder of PayGrade. “Together, our platforms will make it possible for millions of children and families to more easily navigate the complex worlds of business, banking, and investing in a safe space—giving the next generation the hands-on education they need to advance and achieve financial equity.”
“Financial literacy is a foundational requirement to achieve a stable financial future. With PayGrade’s quality curriculum and engaging digital educational tools, Stash will be able to help students acquire critical knowledge and skills in partnership with teachers and parents,” says Ian Chiu, Managing Director at Owl Ventures, the largest venture capital firm focused on investments in education and upward mobility, including Stash. “Stash and PayGrade together will help improve the financial lives of students and families in communities all across America.”
Read More: Bakkt Expands Reach of the Digital Wallet Experience to Send Digital Assets to Anyone
