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The US WealthTech sector experienced a significant recalibration in the first three quarters of 2025, with a sharp decline in both funding and deal activity. Despite this contraction, New York firmly established itself as the leading hub for WealthTech innovation, while platforms like Stash secured substantial funding to drive future growth in AI-driven financial planning.
US WealthTech Funding and Deal Activity Sees Sharp Decline in Q1-Q3 2025
The period from Q1 to Q3 2025 marked a pronounced downturn for US WealthTech investments. Total funding plummeted by an alarming 64%, falling to $2.6bn from $7.2bn recorded in the same period of 2024. This significant drop signals a more reserved investment climate.
Deal activity mirrored this trend, with a 47% year-over-year reduction. The market saw 264 deals completed, a substantial decrease from the 494 transactions observed in the first nine months of 2024. This environment suggests investors are increasingly prioritizing profitability and clear commercial viability over rapid expansion, reflecting broader market uncertainties.
New York Solidifies Position as Premier WealthTech Hub
Amidst the overall market slowdown, New York emerged as the undisputed leader in the US WealthTech landscape. Companies based in the state secured 78 deals, accounting for an impressive 30% of all transactions during Q1-Q3 2025. While a slight numerical dip from 81 deals in the prior year, New York’s market share significantly increased from 16%, highlighting its growing importance.
California, traditionally a strong contender, saw a notable shift, with its deal count falling by 56% to 61 deals (23% share) from 140 deals (28% share) in Q1-Q3 2024. Florida climbed to third place, recording 16 deals (6% share), effectively displacing Texas, which previously held a stronger position with 35 deals in 2024. This regional consolidation indicates a flight to more established WealthTech ecosystems during times of market constraint.
Stash Secures $146M Series H to Accelerate AI-Driven Financial Planning
One of the standout financial technology deals of the period saw New York-based WealthTech platform Stash close a significant $146m Series H funding round. This substantial investment, led by Goodwater Capital alongside existing backers, underscores confidence in Stash’s mission to democratize wealth-building for everyday consumers.
With over 1.3 million paying subscribers and $4.3bn in assets under management, Stash continues to innovate at the intersection of automated investing, educational content, and user-friendly technology. The new capital is earmarked to accelerate the development of its recently launched Money Coach AI. This cutting-edge tool provides personalized financial guidance, offering real-time recommendations on investment choices and portfolio diversification, enhancing user engagement and prompting tangible financial actions. The AI tool has already garnered over 2.2 million user interactions, solidifying Stash’s role in transforming personal finance through scalable technology.
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