The raise brings the company’s total known funding to USD 19.6 million. Other investors in the company include Experian Ventures, Cherry Tree Investments, Dig Ventures, Mucker Capital, Unlock Venture Partners, Techstars, and Wavemaker Partners.
Stackin’ uses text messaging to give money tips to young consumers, which it meets by advertising on platforms like TikTok, Snapchat, and Instagram. According to TechCrunch, it is a friendly ‘robo-advisor’ that sends advice on how to save, and from time to time, recommends an app from the fintech space.
The texts for the first 30 to 60 days are tailored to how someone finds Stackin’. If users come in from a TikTok around investing, the first two months are around investing tips. After that time, the knowledge becomes more general. When Stackin’ has enough information on a user to see that they might be interested in opening an investment account, for example, they present to the user three options of platforms they can use.
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