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

January 2019

Acorns raises a $105,000,000 series E round from Bain Capital Ventures, The Rise Fund, DST Global, DST, NBCUniversal, Comcast Ventures, BlackRock and MSD Capital.

March 2014

Acorns raises a $5,500,000 series B round from Jacobs Asset Management.

Funding rounds

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Investment
3 Results
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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

Further reading

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Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Christopher Competiello
November 19, 2019
Business Insider
Jennifer Barrett, chief education officer at Acorns, advocates for a systematized and disciplined approach to saving and investing.
MATH Venture Partners
April 30, 2019
www.prnewswire.com:443
CHICAGO, April 30, 2019 /PRNewswire/ -- MATH Venture Partners (MATH), a Chicago-based early stage venture capital firm, announced the closing of a new $46...

References

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