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Investing app Stash raises $125 million as it looks to add new customers — just not day traders

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Stash co-founders, Brandon Krieg and Ed Robinson.

Source: Stash

Stock-trading app Stash plans to announce a $125 million venture investment to help fuel customer growth. But it’s not looking to attract the type of trader who might bet on GameStop.

The New York-based company will announce a Series G funding round Wednesday, led by Eldridge with participation from T. Rowe Price and others. The cash injection puts Stash’s valuation at $1.4 billion, according to people familiar with the matter.

“We purposely built a bad day-trading system,” Stash founder and CEO Brandon Krieg told CNBC. “Our brand and our message, as well as our onboarding are not attractive to someone who’s coming to day…



Source cnbc.com

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