Finance
Stash Secures $146 Million to Add AI to Financial Guidance Platform | PYMNTS.com
Stash has secured $146 million in a Series H funding round to deepen its investment in artificial intelligence (AI) for its financial guidance platform.
“For a decade, Stash has helped millions take control of their financial futures,” Stash Co-Founder and Co-CEO Ed Robinson said in a Monday (May 12) press release. “Now, we’re doubling down — transforming how people save, invest and build long-term wealth with AI-powered intelligence at the core.”
Stash’s platform has 1.3 million paying subscribers and $4.3 billion in assets under management, according to the release.
The company said in the release that its recently launched Money Coach AI, a platform that helps customers build savings and start investing, has had 2.2 million customer interactions.
One in four customers who interacted with the platform went on to make an investment, deposit funds, diversify or take other positive actions, according to the release.
Chi-Hua Chien, founder and managing partner at Goodwater Capital, which led the funding round, said in the release that Stash is “laser-focused on innovation, growth and setting a new industry standard.”
“Stash isn’t just using AI to enhance its platform — it’s using AI to transform how people engage with their money,” Chien said. “The company’s momentum is undeniable, and we are proud to support this next frontier in FinTech.”
A growing number of consumers are seeking personal finance advice amid economic headwinds that have left them worried about their financial future, according to the PYMNTS Intelligence and NCR Voyix collaboration, “Navigating Financial Uncertainty: Whose Advice Do Americans Trust?”
The report found that 57% of Americans sought personal finance advice in 2023. It also found that among those who have never received financial planning advice, nearly three-quarters are now open to the idea and more than half plan to seek advice in the next three years.
DailyPay added a financial wellness tool called “Credit Health” to its earned wage access app in September. Credit Health delivers insights such as credit bureau scores and histories, credit reports, monitoring/alerts and score factors.
Brightfin debuted a financial wellness app designed for younger consumers in July, saying the app helps younger generations understand their money and manage their finances.
US-based bank holding company First Financial Bancorp has completed its previously announced acquisition of Westfield Bancorp and its subsidiary, Westfield Bank.
In June, First Financial agreed to acquire Westfield Bancorp from Ohio Farmers Insurance Company in a cash-and-stock deal valued at $325m.
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With the addition of Westfield Bank, First Financial’s total assets now stand at $20.6bn, strengthening its presence in the Midwest region of the US.
The acquisition is said to expand First Financial’s commercial banking and wealth management services in Northeast Ohio.
Westfield Bank’s retail locations and related services will now operate as part of First Financial’s network.
These branches will retain their current branding until the completion of conversion process, which is expected to occur in March 2026.
The conversion will merge the two banks’ products, processes and operating systems.
Westfield Bank clients will continue to receive services through existing channels, and will receive information about account conversions in the coming months.
First Financial president and CEO Archie Brown said: “This is an exciting step in the growth of First Financial, as the addition of Westfield Bank opens new possibilities for growth and profitability for us in an attractive market.
“We can now bring our wide range of solutions in consumer, commercial, specialty lending and wealth management to new clients, while expanding our geographic footprint for our current clients.
“The First Financial team is thrilled to welcome the Westfield Bank team members to the First Financial family.”
The transaction follows First Financial’s recent expansion activities in the Midwest.
In 2023, the company established a commercial lending presence in Northeast Ohio.
Earlier this year, First Financial announced BankFinancial, the parent company of BankFinancial, National Association, in Chicago, Illinois.
Furthermore, the company has also established a commercial banking presence in Grand Rapids, Michigan.
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