‘Acorns’ A Finance Company That Allows Individuals To Round Up Purchases And Automatically Invest The Change
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CEO: Noah Kerner
Headquarters location: Irvine, California, United States
Chief legal officer: Ashley Good
Founders: Jeffrey James Cruttenden, Walter Wemple Cruttenden III
Acorns is a fintech company best known as a micro-investing platform that allows users to set up automated investments into a portfolio through Round-Ups: Acorns rounds up a debit or credit card purchase made on a linked card to the nearest dollar and invests the change on behalf of the member. Investments are made into one of five portfolios carrying different levels of risk. Acorns is one of many fintech companies focusing heavily on millennial investors, including Robinhood Markets, Inc. and Stash Financial, Inc.
Acorns appeal to millennials and other people new to the world of investing, who may not have significant capital to put toward their retirement. Acorns’ goal is to enable users to invest early and often and with minimal effort. The average Acorns member invests more than $30 per month through Round-Ups, its signature program.
In the last year, Acorns has begun a new partnership with CNBC to make more information on investing and finance available to a broader audience through the Acorns Grow website. As of June 2019, Kerner indicated that Acorns was not seeking to go public.
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