Wednesday, April 15, 2015

Acorns Finds $23M To Turn Spare Change Into Stock Portfolios

Wish you could turn your spare change into a stock portfolio? Well, apparently, you can--thanks to Newport Beach-based Acorns, a new startup which said today that it has raised $23M in a Series C funding round. Acorns offers up iOS, Android, and Amazon apps which automatically round up debit and credit card purchases, and poolls those into an investment account. The Funding came from Greycroft Partners and e.ventures and also included Sound Ventures, Garland Capital, and MATH Venture Partners. Acorns said that so far, 75 percent of its users are under the age of 35; the company says its apps help eliminate the traditional barriers that prevent individuals from saving and investing. Acorns is led by Jeff Cruttenden. More information »