Fintech company Stash launches StashWorks, a workplace benefit backed by SHRM that partners with companies to power saving for American employees

NEW YORKMay 16, 2024 /PRNewswire/ — Stash, the investing app that empowers Americans to achieve financial goals, today announced the launch of StashWorks, a new employer benefit platform that empowers salaried and hourly workers to improve their financial well-being. StashWorks simplifies saving for millions of employees, eliminating stress and encouraging financial and professional success.

The first cohort of StashWorks partners include Wonder, a company founded by entrepreneur Marc Lore that is redefining at-home dining and food delivery; Aurify Brands, one of New York City’s largest independent restaurant operators; PEAK6 Investments; and other notable private and public brands in retail, customer service, and insurance. Backed by SHRM—the world’s largest HR association—StashWorks works directly with employers and can be accessed through best-in-class PEOs as well as top-tier benefit brokers.

“It’s standard practice for employers to offer either a 401(k) or a pension for retirement, but hardworking Americans need just as much help saving for now,” said Liza Landsman, Stash CEO. “StashWorks supports employees’ financial needs in both the short and long term, with the broader impact of helping companies elevate the employee experience—leading to happier, healthier, and more productive workplaces.”

“Stash is an innovative leader in the personal finance and fintech space, and we’re thrilled to be both a strategic investor in Stash and a key launch partner of StashWorks, its new disruptive offering for companies and their employees,” said Johnny C. Taylor, Jr., SHRM-SCP and SHRM President and CEO. “SHRM is the trusted authority on all things work, and we know that employers want to give their workers the tools to be financially successful, but this can be a challenge to manage. StashWorks makes it easy for everyone.”

For millions of Americans today, saving money is hard and out of reach even with a regular source of income. Meanwhile, research also proves that inflation and the inability to grow wealth continue to take a toll on the workplace experience. StashWorks makes saving a habit that sticks: Employees can designate any dollar amount or paycheck percentage to save on payday, quickly earning rewards for ‘Saving Streaks’ as they hit key milestones on their journey to financial well-being.

“Offering employees a financial tool for saving money not only promotes fairness within our organization but also contributes to a more inclusive and equitable workplace culture where everyone has the opportunity to thrive financially,” said Marc Lore, Chairman and CEO of Wonder. “StashWorks will be the first solution that gives our employees easy-to-use tools to save so they can easily achieve both short- and long-term goals in a cost-effective way, with educational and structural frameworks that provide a holistic approach to their personal finances.”

About StashWorks: 

StashWorks brings the innovation and accessibility of modern financial technology to employee benefits. StashWorks helps customers set and pursue financial goals of every size, one paycheck contribution at a time, by creating a seamless all-in-one experience for employees to manage their paycheck and saving goals all in one place.1 StashWorks incentivizes good money behaviors with cash bonuses into a customer’s managed investment account as they hit specific milestones—a larger bonus for getting started, and, during their first six months using the platform, an opportunity to receive additional ‘Saving Streak Rewards’ for each month in which the customer makes two paycheck deposits. The benefit also comes with Stash’s patented Stock-Back® Debit Mastercard®, which lets customers earn up to 3% in stock as they spend with the card2, plus no overdraft fees3, ATM access, payday up to two days early4, and access to curated guidance and advice through the Stash Learn platform. With StashWorks, millions more can use Stash to easily build healthy habits and learn as they earn.

About Stash:

Stash is an investing app dedicated to empowering people to invest and build better lives. Stash’s plans—starting at just $3 a month—unlock access to a suite of simple, automated solutions designed to help people find security and peace of mind through investing. In 2023, the company announced the appointment of Liza Landsman as CEO, a $40M fundraise, and its Smart Portfolio managed account was named as the top-performing overall robo-advisor by Condor Capital.5 Stashers are 15% more financially literate than the average American6, and rely on Stash for timely education, expert advice, and clear next steps to help them grow their money and achieve lifelong goals.

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