Launch of robot investment app in the Google Play Store dramatically increases accessibility for the Black community as Stackwell positions itself for accelerated growth in 2023
BOSTON, January 26, 2023 /PRNewswire/ — Stackwell, the digital investment platform designed to close the racial wealth gap, today announced that its app is now available for all Android phone users to download from the Google Play Store. The robotic investing app, which addresses and removes the social, emotional and cultural barriers to entry driving underinvestment in financial markets by the black community, launched in September 2022 for iPhone users in the App store. With this significant expansion, the Stackwell app is now available to all smartphone users with a $1 monthly subscription fee and a $10 minimal investment.
“The release of our app on the Google Play Store is another milestone for us as a company and represents the achievement of one of our main goals, which is to increase accessibility and trialability. for more members of the black community by intentionally meeting them where they are,” said the founder and CEO of Stackwell Trevor Rozier Byrd. “Our release today positions us well to continue to accelerate the growth of our user base and further expand our partner ecosystem.”
The expansion to Android provides greater accessibility for the black community, as data shows that 66% of black and African American households prefer Android phones.
Stackwell’s announcement comes as the company kicks off a series of in-person events with its strategic partners across the country. The company will host community activations with its NBA and WNBA partners in Detroit, Minneapolis, New Orleans and washington d.c. beginning in the first quarter, including financial wellness and investment education events with each of the teams at practice facilities and other neighborhood locations. Additionally, Stackwell will launch in-person events for its HBCU-focused initiatives with Hampton University, and the Student Investment Program (SIP) with Student Freedom Initiative and Prudential Financial. These latter two programs are designed to focus on the younger generation of future black leaders, as black millennials and gen Zs face the largest racial wealth gap in the country.
Stackwell is a leader in financial access and inclusion. Through its many strategic partnerships, Stackwell has invested nearly $800,000 back into the Black community in the form of seed capital and scholarships to support future advancement and wealth-building opportunities for Black students, entrepreneurs, creators, and small business owners, among others. Reinvesting in the black community is a key part of Stackwell’s impact strategy, and the company will continue to align with strategic partners and benefactors who are also focused on this work.
“The core of addressing black underinvestment in financial markets is about increasing representation in this space,” Rozier-Byrd said. “Through our strategic partnerships, we have been able to create a sense of community and an ecosystem of network effects that will bring tangible benefits to our users and significantly accelerate Stackwell’s growth in an efficient way.”
Smartphone users can download the Stackwell app today from the App store and Google Play Store.
Stackwell Capital, Inc., is a financial technology company that created a digital investment platform for the black community designed to close the racial wealth gap in America. Stackwell provides the financial investment tools and guidance needed to help build lasting wealth, equity, and equal opportunity. Stackwell is a member of the 2022 Financial Solutions Lab and the MassChallenge US Early Stage accelerator programs. For more information, visit stackwellcapital.com.
Contact: [email protected]