Investing app Stash adds crypto offering, passes $125M in annual revenue

Investing app Stash, which last raised $125 million from investors in a Series G round last year, is adding crypto to the set of products it offers its 2 million users. The startup sees itself as different from competitors because of its focus on cultivating customers who are long-term investors rather than encouraging more frequent, riskier trading for short-term profits, Ed Robinson, Stash co-founder and president, told TechCrunch in an exclusive interview.

The company, valued at $1.4 billion during the Series G fundraise, also shared its latest annual revenue figure with TechCrunch, which Robinson said amounts to $125 million today. Deposits on the platform have grown 30% over the past year and it has nearly $3 billion in assets under management today, according to a spokesperson for the company. That’s up from an AUM of $1 billion in April 2020, according to previous TechCrunch reporting.