The Massachusetts Bay Company backed the economy of the Massachusetts Bay Colony. In fact, it was the founders of the Massachusetts Bay Company that started the Massachusetts Bay Colony.
The Massachusetts Bay Company was a stock trading company that was originally chartered by the King of England in 1629. The goal of this company was to colonize large portions of New England. The company was taken over by Puritans, and the first group of Puritans moved to New England to establish the Massachusetts Bay Colony in 1630. By 1640, the colony had around 20,000 settlers. Later the company was changed into a religious commonwealth.