Friday, January 12, 2018
Acorns Gets Investment From TPG
Irvine-based micro-investing app developer Acorns said this morning that it has received an investment from private equity investor TPG, via TPG's The Rise Fund, which is focused on companies in the social and environmental area. According to Acorns, the investment by TPG's Rise Fund is the first in a fintech company. Size of the investment was not announced by the company. Acorns said its focus is on helping people invest for their future, earn extra money, and more, and specifically is targeting the 69 percent of Americans who don't have $1,000 in emergency savings. Acorns is led by CEO Noah Kerner, and says it now has 150 employees.