Key US WealthTech investment stats in Q1 – Q3 2025:
- US WealthTech deal activity fell by 47% YoY
- New York emerged as the main WealthTech hub as companies based in the state secured 30% of all deals in Q1 – Q3
- Stash, the New York-based WealthTech platform making wealth-building accessible to everyday consumers, closed one of the biggest US WealthTech deals of the first nine months with a $146m Series H funding round
US WealthTech deal activity fell by 47% YoY
During the first three quarters, the US WealthTech market experienced a substantial contraction in both funding and deal activity compared with the same period in 2024.
Total funding fell sharply to $2.6bn, representing a 64% decrease from the $7.2bn raised in Q1-Q3 2024.
Deal activity also declined significantly, with 264 deals, marking a 47% drop from the 494 deals completed during the first nine months of 2024.
This steep reduction in capital inflows and transaction volume highlights a markedly more cautious investment environment, as investors prioritised profitability and clearer commercial pathways amidst broader market uncertainty.
New York emerged as the main WealthTech hub as companies based in the state secured 30% of all deals in Q1 – Q3
New York became the most active state in the US WealthTech sector in Q1-Q3 2025, attracting 78 deals (30% share), only a slight decrease from the 81 deals (16% share) completed in Q1-Q3 2024, but reflecting a notable rise in its overall share of national activity.
California followed with 61 deals (23% share), a significant 56% decline from the 140 deals (28% share) recorded the previous year.
Florida ranked third with 16 deals (6% share), replacing Texas, which had completed 35 deals (7% share) in Q1-Q3 2024.
Despite the broad reduction in deal volumes, New York substantially increased its percentage share, indicating that leading states have consolidated their positions as activity shifted towards more established WealthTech hubs during the market slowdown.
Stash, the New York-based WealthTech platform making wealth-building accessible to everyday consumers, closed one of the biggest US WealthTech deals of the first nine months with a $146m Series H funding round
The round was led by Goodwater Capital alongside existing backers.
With over 1.3m paying subscribers and $4.3bn in assets under management, Stash has established itself as a key player in AI-driven financial planning by combining automated investing tools, educational content, and a user-friendly app to help individuals build long-term financial health.
The new capital will accelerate the development of its recently launched Money Coach AI, which delivers personalised financial guidance on investment choices and portfolio diversification in real time.
Already recording over 2.2m user interactions, the AI tool has proven effective in prompting users to take immediate financial action, reinforcing Stash’s mission to democratise wealth management and transform personal finance through technology at scale.
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