Tuesday, November 7, 2017

Acorns Acquires Vault

Irvine-based Acorns, a fintech startup which helps people get into investing, has acquired Portland, Oregon-based Vault, a startup developing services which had automatically helped users save for retirement. Financial details of the acquisition were not announced. According to Vault CEO Randy Fernando, Vault will relaunch itself as Acorns Later sometime in early 2018. The company said its service will automatically "round up" spare change from everyday purchases and place them into retirement savings. Acorns is led by CEO Noah Kerner.