Stackwell, the digital investment platform designed to eliminate the racial wealth gap, today announced its app is now available for download by all Android phone users in the Google Play Store. The robo-investing app, which addresses and removes the social, emotional and cultural barriers to entry resulting in underinvestment in the 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 accessible for all smartphone users with a $1 monthly subscription fee and a $10 investment minimum.
“The release of our app to the Google Play store is another significant milestone for us as a company and represents the realization of one of our core objectives, which is to increase accessibility and trialability for more members of the Black community by intentionally meeting them where they are,” said Stackwell founder and CEO 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.”
Expansion to Android provides greater accessibility for the Black community, as data shows 66% of Black and African American households prefer Android phones.
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Stackwell’s announcement comes as the company kicks off a series of in-person events with their strategic partners across the country. The company will be hosting community activations with its NBA and WNBA partners in Detroit, Minneapolis, New Orleans and Washington D.C. starting in Q1, including financial wellness and investment education events with each of the teams at practice facilities and other neighborhood venues. In addition, Stackwell will begin 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 last two programs are designed to focus on the youngest generation of future Black leaders, as Black Millennials and Gen Z-ers face the largest racial wealth gap in the country.
Stackwell is a leader in the financial access and inclusion space. 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 the future advancement and wealth building opportunities of Black students, entrepreneurs, creators and small business owners, among others. Reinvestment into the Black community is a key element of Stackwell’s impact strategy, and the company will continue to align itself with strategic partners and benefactors that are similarly focused on this work.
“Core to addressing Black underinvestment in the financial markets is increasing representation in this space,” said Rozier-Byrd. “Through our strategic partnerships we have been able to create a sense of community and an ecosystem of network effects that will provide tangible benefit to our users and significantly accelerate the growth of Stackwell in an efficient manner.”