Stash, the newly anointed fintech unicorn, has been a company to watch for some time and has been known as one of the fastest-growing financial technology companies in the U.S. Today it has more than 6 million customers who are signed up for the world’s first subscription platform that promises to empower middle-class Americans to build and invest wealth. With the spotlight on the company, new significant hires have been made sparking rumours an of impending IPO.
The first of the hires is Adriel Lares, Stash’s new CFO and a tech industry heavy weight with an impressive list of accomplishments in the financial space. Stash is lucky to have nabbed Lares from Lastly, where he helmed the CFO role for 5 years which included taking the company public in 2019, seeing the shares sell at top of the range under his expert direction. It is to no surprise that he is regarded as one of the most accomplished financial leaders in the tech space. His credentials also include being the CFO at Lookout and at 3PAR.
Speaking on his new appointment Lares shares that Stash is “the first consumer subscription platform dedicated to building middle-class wealth with an emphasis on personalized advice, education and customer experience. It also leads in company culture, attracting the best talent from diverse backgrounds and experiences”. With equal enthusiasm, Stash shared that “Adriel is an exceptional leader with a proven record of achieving highly ambitious goals”. It was not shared as yet, what Lares’ ambitions for the company will be, but with 2 enormously successful IPOs under his belt, and the announcement that he would be hitting the ground running during an exciting period of growth for the company, there is fairly decent indication that the company is gearing for significant growth and a potential public listing.
Also joining Stash is Jon McNeill, a renowned tech leader who will be the latest appointment to Stash’s distinguished board of directors. Most recently, McNeill was recruited by Elon Musk to serve as Tesla’s President of Global Sales and Service during what was a crucial moment for the company. Under his tenure. Tesla quintupled its revenue. Until the appointment, McNeill was the CEO and Co-Founder of Dvx Ventures and a board member for LuluLemon, Tekion and CrossFit. His resume also includes being the COO for Lyft at the precipice of its IPO.
The new appointments following a cash surge into the company demonstrates a determined path for a bright future for the company during a period of enormous expansion. With 2.1 million active subscribers and doubled revenue over the past year, it will be exciting to see where this new leadership will land the company.