What is Acorns?
Founded in 2012 and headquartered in Irvine, California, Acorns offers comprehensive investment advisory services. The company provides a suite of wealth and portfolio management, brokerage, and custody services, catering to a broad range of investors seeking accessible and automated financial tools. Acorns has established itself as a key innovator in making investing and wealth-building more approachable for everyday consumers.
How much funding has Acorns raised?
Acorns has raised a total of $570.6M across 11 funding rounds:
Series B
$6.2M
Private Equity
$10.5M
Series C
$23M
Private Equity
$2M
Series D
$70M
Private Equity
$50M
Other Financing Round
$105M
Series F
$300M
Series B (2014): $6.2M featuring Jacobs Asset Management and Digital Offering
Private Equity (2014): $10.5M, investors not publicly disclosed
Series C (2015): $23M with participation from Great Oaks Venture Capital, Liberty Media, Greycroft Partners, and Sound Ventures
Private Equity (2016): $2M led by Point72
Series D (2017): $70M supported by Rakuten, Sound Ventures, Greycroft Growth Fund, Capital Group, Point72, PayPal, e.Ventures Growth Fund, Nyca Partners, and Bain Capital Ventures
Private Equity (2018): $50M featuring Blackrock
Other Financing Round (2019): $105M backed by TPG Capital, Bain Capital Ventures, MSD Capital, NBCUniversal, Comcast Ventures, Digital Sky Technologies, and Blackrock
Series F (2022): $300M with participation from BlackRock, Greycroft Partners, Bain Capital Ventures, TPG, and Torch Capital
Key Investors in Acorns
TPG Capital
TPG Capital is a global investment firm renowned for managing alternative assets and driving business growth across diverse sectors. They provide investment management, advisory, and capital solutions, operating across private equity, credit, real estate, and impact investing.
Bain Capital Ventures
Bain Capital Ventures is a leading private investment firm with a commitment to creating lasting impact. They invest across private equity, growth & venture, capital solutions, credit & capital markets, and real assets, applying deep sector expertise to foster innovation and unlock opportunities.
Rakuten
Rakuten is a global technology conglomerate and innovation company operating a comprehensive digital ecosystem. They offer a wide array of services including Internet Services, FinTech, Mobile, Communications, and Digital Content, serving a vast global membership base.
What's next for Acorns?
With its latest major strategic investment, Acorns is poised to further enhance its service offerings and expand its market reach. The substantial capital infusion, indicated by the $570.6M in total funding, suggests a focus on scaling operations, developing new product features, and potentially exploring strategic partnerships. This strategic backing will likely enable Acorns to solidify its competitive advantage in the rapidly evolving fintech industry, driving innovation in personal finance and investment management.
See full Acorns company page
