Stackin, a US startup that helps consumers navigate the crowded fintech space, has raised a $12.6 million Series B funding round led by Octopus Ventures.
Stackin' uses text messaging to provide subscribers with money-saving tips alongside a curated marketplace of fintech apps. The firm utilises machine learning, data and predictive analytics to more efficiently place users into helpful financial products.
The company, which counts one million subscribers to its service in the US, is currently preparing for launch in the UK. The firm says its aim is to be the "simplest entry point into finance” for millennials
"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," says Marieke Christmann, principal at Octopus Ventures. "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."