Stash, a US-based saving and investment platform, has secured $146 million in its Series H funding round.

The company said the funding will accelerate product innovation, drive subscriber growth and further develop Stash's AI capabilities at scale.

Stash said it will expand Money Coach AI, a financial guidance platform which the company claims can translate “expert-level” investing strategies into real-time personalised recommendations for everyday Americans.

Since it launched, Stash said that that it has helped customers with a range of tasks including picking their first investment, diversifying their portfolios as well as developing good saving and investing habits.

Money Coach AI has seen around 2.2 million user interactions since it launched, and Stash said a quarter of customers who use the platform go on to take positive action such as depositing funds within ten minutes.

Stash currently has around 1.3 million paying subscribers and $4.3 billion in assets under management.

The oversubscribed funding round was led by existing investors Union Square Ventures, StepStone Group, Serengeti, and the University of Illinois Foundation. Additional backing came from funds and accounts advised by T. Rowe Price Investment Management.

"For too long, financial advice has been out of reach for everyday people," said Brandon Krieg, co-founder and chief executive of Stash. "Stash's mission has always been to change that.
“Now, by leveraging the power of AI, Stash is helping people take control of their money, understand their options, build real wealth, and secure their financial future, no matter where they're starting from."

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