Acorns Grow Inc could reach $700mn valuation in funding round

By Block Scientific Inc

Fintech startup Acorns Grow Inc is planning a funding round that could see its value reaching over $700mn, according to Bloomberg.

The company offers digital wealth management services, putting spare cash into funds managed by the likes of Vanguard Group and BlackRock.

The app operates as a ‘micro-investing’ account, letting users have small amounts of money automatically invested in EFTs (exchange-traded funds) in what is becoming a growing trend in the Fintech space. Users can also control how much “risk” they would like to take with their investments.

See also:

PayPal launches first brick-and-mortar cash services

JP Morgan to buy fintech startup WePay

Read the latest issue of Business Chief

It currently has over $1bn in assets under management (AUM) and around 4mn people have signed up to the app so far.

Some high-profile investors in Acorns are currently PayPal, BainCapital, BlackRock, Rakuten, Capital Group and many more.

Acorns Grow Inc was founded in 2012, with the app launching in 2014, by Walter and Jeff Cruttenden. The company is based in Irvine, California.



Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI