PayPal Holdings is making a move into robo-investing. The San Jose, Calif., payments company is connecting its website and smartphone apps with those of Acorns Grow Inc., a five-year-old automated savings and investment service, the two companies said Monday. PayPal users will be able to use their accounts to make contributions to Acorns and will be able to monitor and manage their Acorns investments from the PayPal app, said Joanna Lambert, the company’s vice president of consumer financial services. PayPal is rolling out the Acorns offerings in phases, with the first batch of users getting access on Monday and all U.S. users by early 2018. The new partnership is being launched about a year after PayPal took a minority stake in Acorns as part of a $30 million fundraising round that PayPal led. Under CEO Dan Schulman, PayPal has tried to branch out beyond its roots in payments and into other financial services geared toward consumers who lack access to bank accounts and other mainstream financial products.
Acorns to launch new retirement accounts after buying Portland fintech startup, Vault
Micro-investment service, Acorns, which automatically invests small amounts from its customers’ bank accounts into investment funds, has bought Vault, a Portland-based developer of retirement fund investment services. Vault’s application lets its users set aside part of their paychecks into retirement funds. The deal is a solid compliment to Acorns’ own investment app, which is more for acclimating users to the idea of investing in the stock market. The company said that, thanks to the acquisition, it will be launching a new individual retirement account, called Acorns Later. Current Acorns customers can get on the waitlist today for the new product, available starting January 2018, the company said.
Mobile savings & investment app Acorns raises $35M from Bain, is on track to do 1 billion trades in 2017
Acorns is quickly turning into an oak tree in the financial services space. The company now boasts more than 2 million investment accounts (with 600,000 opened in 2017 alone) and is on track to do 1 billion trades in 2017 through the proprietary broker-dealer that it created. Those are hefty numbers to post for any financial services company, especially considering that Fidelity (one of the nation’s largest money managers) will do approximately 60 million trades over the same period.
Ashton Kutcher Discusses Acorns on The Late Show with Stephen Colbert
The Late Show with Stephen Colbert (VIDEO) - Actor and investor Ashton Kutcher discusses some of his top preforming venture capital investments including Uber, Airbnb and Acorns. Stephen discusses his idea for a startup and asks Ashton if he is interested in an investment in his new company, "Flurpy."
The Wall Street Journal's Top 25 Tech Companies to Watch
#22 Acorns - The Wall Street Journal set out to identify companies that show signs of becoming emerging leaders. A data analysis assessed their founders' experience, investor track record, amount of investments raised, growth of workforce and buzz about the company. These five factors were given an equal weighting to calculate a maximum score of 100.
The Acorns Investing App Actually Encourages You to Splurge On That Starbucks Latte
The fintech app Acorns may be backed by high-net-worth investors including billionaire trader Steve Cohen, but its customers are far more average: Regular investors who make as little as $25,000 per year. Acorns is part of a trendy and growing industry of so-called robo-advisors, online-only financial advisors that steer clients' money into low-cost investments. Yet while many financial advisors recommend skipping your morning latte and other inessential indulgences in order to save more for retirement, Acorns actually encourages you to keep swiping your credit card in pursuit of that same goal.
Hot investing app Acorns just snagged Airbnb to give its customers 'free money'
For This Fintech Upstart, Small Is Beautiful
PayPal leads $30 Million Round in Acorns Investing App
Acorns, the investing app, is announcing a $30 million strategic investment from PayPal, with participation from the Rakuten FinTech Fund. This brings the team’s total funding to $62 million. With 850,000 investment accounts, Acorns works by rounding up purchases and investing the remainder. In other words, if you buy a latte for $3.99, that penny will go into an ETF.
PayPal Just Backed An Investment App For Millennials
The startup raised $30 million from the payments giant and Japanese e-commerce company, Rakuten. Jeff Cruttenden had been investing since he was 11. As the son of an investment banker, he was taught as a teenager the value of growing money by investing in mutual funds and stocks. But when he arrived at college, he realized he was one of the few of his classmates who knew anything about
Micro-Investment App Acorns Raises $23 Million Led By Greycroft, e.Ventures
Acorns, the micro-investment app that sets up a portfolio for you by collecting your spare change, has today announced the close of a $23 million Series C financing, led by Greycroft Ventures and e.Ventures, with participation from Sound Ventures, Garland Capital, and MATH Venture Partners. This brings Acorns’ total amount raised to $32 million. The company, which rounds up to the next dollar on every user transaction and invests it into a customizable portfolio, says that it has grown to 650,000 members with around half of them opening up investment accounts on the platform. Acorns also says that it’s processed over 28 million trades and linked more than a million debit and credit cards to the platform. Acorns claims to be the world’s first mobile investment platform, letting users attach their credit cards, debit cards, etc. and make deposits or withdrawals at will. But the special sauce of Acorns lies in its sticky-handed grab at your spare change. On every transaction made on attached credit or debit cards, Acorns automatically rounds up to the nearest dollar and takes the spare change, placing it into your investment portfolio. Obviously, users can opt out of that, or set up a system to go in daily and choose which transactions should be rounded up. Users also have control over the type of portfolio they choose, with five options ranging from conservative to aggressive.
Acorns, the app that automatically invests your spare change, raises $23 million
Opening and managing an investment account can be intimidating for a lot of people, but what if a simple smartphone app could take care of it all for you? Acorns, a eight-month old smartphone app built for exactly that purpose, said Wednesday that it had raised $23 million in additional funding. Acorns’ app was designed to help people, especially first-time investors, get started in investing with small automated investments into a portfolio of exchange-traded funds, or ETFs, that the company selects and balances. Users link their bank accounts to the app, which then automatically rounds up the cost of all transactions to the nearest dollar, withdraws that spare change and invests it. For example, if you buy a coffee for $2.40, Acorns will take an extra 60 cents and invest it in an exchange-traded fund.
12 best iPhone apps of 2014
1) Acorns - We all know investing properly is crucial for long term financial success but getting started can the most overwhelming and difficult part. Acorns takes the friction out of the process by investing the change left over from your everyday purchases into a portfolio managed by a financial professional. You can choose how much to invest, how aggressive you want to be and the app takes care of the rest. Acorns is free but costs $1/month once you start investing.
Going Mobile: a User’s Guide to Investing Apps
In a world where there are mobile apps for shopping, dating and identifying constellations in the night sky, it was inevitable that Wall Street would bring managing money to the smartphone. A growing array of apps makes it possible to track your investments, allocate assets and trade—in real time, anywhere with an Internet connection. Large asset managers and discount brokerages have rolled out app-based services. So have small startup firms, some of which are luring investors with investment competitions or features adapted from social media.
This App Makes Investing As Easy As Swiping Your Credit Card
Investing is complicated. Acorns is not. The app from California-based father-son team Walter and Jeff Cruttenden aims to take the anxiety, deliberation, and intimidation out of investing by boiling it down to a matter of cents. The company, which just released its app on Android in addition to the existing iPhone version (available in the US only), was founded in 2012 and has raised $9