Stackin' Announces $12.6 Million Funding Round
Stackin'

Stackin’ Announces $12.6 Million Funding Round

Despite concerns that the FinTech deals were slowing before the pandemic and would continue to slip as a result of shifting economic conditions, news of startups investments continue to roll in. This past week, Stackin’ announced that it had raised $12.6 million in a funding round led by Octopus Ventures. The Series B also brought participation from new and existing investors such as Experian Ventures, TechStars, Cherry Tree Investments, Mucker Capital, Unlock Venture Partners, Wavemaker Partners, and Dig Ventures. Not only will the funds go towards expanding Stackin’s stateside product but the company also plans to launch in the United Kingdom later this year.

Stackin’ is a text messaging-based service aimed at providing people with financial tips on a regular basis. Among the money topics Stackin’s tips address are reducing debt, investing, and more. It also recommends curated products to users. Currently the service has more than one million subscribers and has delivered over 100 million text messages.

Speaking to how the latest round will impact his company, Stackin’ co-founder and CEO Scott Grimes said in a statement, “This funding allows us to provide our current users a more personalized and connected experience, expand and enhance our partnerships and continue our rapid growth.” Grimes went on to say, “We’re thrilled to partner with Octopus Ventures to support our vision to create an entirely new type of financial relationship with the next generation of consumers.”

Marieke Christmann, Principal at Octopus Ventures, also explained the VC’s investment in the FinTech, stating, “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.” Of course, Octopus being a London-based firm, they’re also quite excited about Stackin’s expansion across the pond, with Christmann adding, “With its deep fintech expertise and array of direct to consumer offerings, the opportunity for expansion in the U.K. is just as exciting, and we look forward to helping Scott and the team make this a reality.”

In recent months, financial education has proven to be one of the fast-growing and most investable niches in FinTech. For example, Savology — which allows users to create a free financial plan in a matter of minutes — announced $750,000 in seed funding in April. Meanwhile, earlier this year, Intuit announced that it would be acquiring the popular free educational credit score site Credit Karma for a whopping $7.1 billion. With Stackin’ now armed with fresh funding and already looking toward foreign markets, perhaps the service could grow to rival Credit Karma and others while helping consumers around the world to better manage their money.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...