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. Marieke Christmann, Principal at Octopus Ventures, will join the company’s board of directors.
Stackin’s mission is to empower a generation of younger consumers with a simple and personalized way to reach their financial goals. Through text message, Stackin’ provides the necessary tools to build healthy financial habits over time in a fun, entertaining, judgement-free relationship all from one’s phone.
Powered by a custom messaging platform, Stackin’s personalized messages provide subscribers various ways to save money, reduce debt and start investing. With over 100 million text messages sent to over one million subscribers, Stackin’ offers education, tips, guidance and access to pre-selected products featured within the company’s marketplace.
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Stackin’ will use the financing to deepen the relationship with subscribers through enhanced personalization, simplified financial product on-boarding and broaden its marketplace of financial products and services. The company also plans to expand to 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,” said Marieke Christmann, Principal at Octopus Ventures. “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.”
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