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Acorns (finance)

Acorns (finance)

Acorns is a U.S-based micro-investing platform.

Acorns is a company that provides micro-investment services through its mobile and web application. Acorns was founded in 2012 by Jeff Cruttenden, Mark Dru, and Walter Cruttenden. Acorns aims to increase accessibility to several investment options that are previously only available for purchase with a large sum of money. The company is based in Irvine, California.

Services

Acorns has three main services: Acorns Core, Acorns Later, and Acorns Spend. Acorns Core provides users with the ability to invest their spare change, as little as $5, into a portfolio of exchange-traded funds (ETFs). Acorns Later lets users make recurring investments for their individual retirement account (IRA). Unlike the first two, Acorns Spend focuses on allowing users to spend money by opening up a checking account in Acorns and using their issued debit cards.

Funding

Since its founding year, Acorns has managed to raise $207 million in capital through 8 funding rounds. The company’s most recent round was a Series E, collecting $105 million in January 2019. Acorns has received financing from 24 investors, with nine of them as lead investors. Past investors for Acorns have included Bain Capital Ventures, Comcast Ventures, NBCUniversal, TPG, and DST Global.

Timeline

Funding rounds

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People

Name
Role
LinkedIn

Aubrey Johnson

Employee



Chris Smothers

Employee



Dan Adams

Chief Compliance Officer



David Keegan

Employee



Hugh Tamassia

Chief Technology Officer



Jeff Sippel

Chief Strategy Officer



Jeffrey Cruttenden

Founder



Jennifer Barrett

Chief Education Officer



Jeremy Stephan

Investor



Jessica Schaefer

Chief Communications Officer



Jike Chong

Chief Data Scientist



Jonathan Keidan

Investor



Luke Tubergen

Investor



Manning Field

Chief Operating Officer



Miguel Mota

Employee



Noah Kerner

Chief Executive Officer



Owen Van Natta

Investor



Sami Khan

Employee



Sanford Ewing

Advisor



Stephen Cho

Employee



Tom Arrix

Investor



Tom Ferry

Investor



Walter Cruttenden

Founder



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