Stash, an investment app by South African financial services firm Liberty, has reached the milestone of 12,000 active users since it launched earlier in 2017. Stash simply rounds up transactions when you swipe your bank card and invests the digital spare change in South Africa’s top 40 companies.
Also interesting to note that the majority of Stash's 12,000 users are youth.
“We are very proud that more than 60% of Stashers are under the age of 35. Getting the younger generation to invest is a challenge because young people are so focused on work, family and socialising that they often neglect this essential financial imperative, that’s why Stash has kept it simple. We’ve loved how quickly people have caught on to Stash. More than a third of Stashers join through friends and more than 3,000 people have pre-registered for Stash for Apple on stash.co.za,” said Juan Labuschagne, Head of Development at Stash.
On 15 October 2017 Stash will be available on Apple’s iOS after initially launching for Android.
“Stash is an SA first. We went back to the drawing board to design an app-based investment that works for those who find investing intimidating. It puts the power of the stock market on your smart phone, and you can access your money whenever you need it.” concluded Labuschagne.
According to Liberty, the average Stash user saves approximately $13 (R175) every month.