Stash Rolls Out Banking Features Through Partnership With Green Dot Bank

Stash, a fintech startup that lets users invest small amounts in ETFs and fractional shares of stocks, announced Thursday it has partnered with Green Dot Corporation (NYSE: GDOT) to bring banking functionality to its app.

What Happened

Stash is adding bank accounts with debit cards to its investing product, according to a press release. The accounts won't have overdraft fees and offer account holders access to Green Dot Bank’s ATMs.

Why It’s Important

Stash is growing rapidly—the company says it has 2 million customers and adds 40,000 every week. The company has also raised a war chest of over $100 million in venture capital. Its addition of banking features shows that it plans to offer more functionality and compete for customer attention in an increasingly crowded personal finance app space.

What’s Next

Stash’s messaging focuses on middle-class investors and savers, and its venture backing shows investors think this approach will bear fruit.

Stash CMO Dale Sperling recently discussed the company’s growth strategy at the Benzinga Women’s Wealth Forum.

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