Stackwell, a Black-owned digital investment platform focused on eliminating the racial wealth gap, has announced its app is now available for all Android phone and system users in the Google Play store.

“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,” Stackwell founder and CEO Trevor Rozier-Byrd said in a statement. “Our release today positions us well to continue to accelerate the growth of our user base and further expand our partner ecosystem.”

The robo-investing app was launched in September 2022 for iPhone users in the App Store. Users can enrol with a $1 monthly subscription fee and a $10 investment minimum.

The move is significant as the Boston-based company looks to expand its reach across Black communities in the U.S. A Joint Center study suggests that 66 per cent of Black and African American households prefer Android phones.

The news comes as Stackwell kicks off a series of in-person events with its strategic partners. The company will soon host community activations with its NBA and WNBA partners in Detroit, Minneapolis, New Orleans, and Washington, D.C.

The events include financial wellness and investment education with each team at practice facilities and other neighbourhood venues. Additionally, the company is dedicating resources to HBCU-focused initiatives with Hampton University and the Student Investment Program (SIP) with Student Freedom Initiative and Prudential Financial.

Stackwell has invested more than $800,000 since its launch into seed capital programs and scholarships for future Black leaders.

“Core to addressing Black underinvestment in the financial markets is 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 provide tangible benefit to our users and significantly accelerate the growth of Stackwell in an efficient manner.”