Digital Investment Platform Stackwell Raises $3.5 Million in Seed Funding Round

The digital investment platform Stackwell announced the successful closing of a $3.5 million seed funding round that will accelerate the company's launch plan, allowing it to rapidly reach key product development and go-to-market milestones, as well as support the hiring of key personnel.

The funding round was led by Michael Gordon, President of Fenway Sports Group, Jeremy Sclar, CEO and Chairman of WS Development and The Kraft Group.

"We are excited to grow the ecosystem of support around Stackwell through this latest funding round as it will enable us to execute against strategic company objectives, scale our operations and drive impact in the Black community,"said Stackwell Founder and CEO Trevor Rozier-Byrd.

Stackwell plans to use the new capital from this round to support the imminent release of its initial product, a robo-investing app, this fall. The Stackwell app is specifically designed to meet users where they are and promote accessibility, education and support throughout the investment process.

The seed round also included participation from CMFG Ventures Discovery Fund, Shea Ventures, SSC Venture Partners, Shorehaven Wealth Partners and so on.

Source: PRNewswire