Funding

Acorns Raises $23M in Series C

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What does Acorns do?

Acorns, is a finance company which allows individuals to round up purchases and automatically invest the change. The financial engine and Accorns app is built for aiding commission free micro investment in a varied portfolio of index funds which are offered by biggest asset managers around the globe, buying fractional shares and naturally saving and investing small amount of money frequently.

Acorns app can help identify and gather found money like rewards and rebates, which can be naturally swept into the investment account of the customer.

How much Acorns was funded?

Acorns raised $23M in Series C funding on April 15th, 2015 from e.ventures, Great Oaks Venture Capital, Greycroft Partners, Garland Capital Group, Math Venture Partners and Sound Ventures.

Previous funding

  • $300k in Seed funding on June, 2012 from Cruttenden Partners
  • $2.5M in Series A funding on October , 2013 from Groundswell Investments, Cruttenden Partners, Steelpoint Capital Partners
  • $6.2M in Series B on March 14, 2014 from Great Oaks Venture Capital and Jacobs Asset Management

What is next for Acorns?

Acorns will use the funding to help it scale and drive product innovations for further eliminating the traditional barriers which prevent people from savings and investments.

More about Acorns
Acorns was founded on February 29th, 2012 by Jeff Cruttenden and Walter Cruttenden along with a team of engineers, mathematicians and brokerage operating professionals. Acorns is advised by Dr. Harry Markowitz, a Nobel Laureate, who is the father of Modern Portfolio Theory.It has its headquarters in Newport Beach, CA.

Acorns is changing the world of investing. It has pioneered micro investing, enabling a new class of investors. It is the largest and fastest growing investment app which lets people round up their everyday purchases and automatically Invest the Change A into index funds which is a commission free diversified portfolio. Acorns eliminates investing guess work and provides a simple entry for any person to get started using the Acorns app which is available on Android and iPhone.

 

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