Acorns allows people to round up purchases and automatically invest the change. The Acorns app and financial engine is built to facilitate commission-free micro investing in a diversified portfolio of index funds offered by the world’s largest asset managers; purchase fractional shares; and automatically save and invest small amounts of money frequently. The app can also help identify and gather found money, such as rebates and rewards, which can be automatically swept into the customer’s investment account.
The company was founded by Walter and Jeff Cruttenden along with a team of mathematicians, engineers and brokerage operations professionals. Acorns is advised by Nobel Laureate, Dr. Harry Markowitz, the father of Modern Portfolio Theory.
Acorns has made micro investing possible through its proprietary investment platform. The brokerage and advisory functions are operated algorithmically while the proprietary back-end technologies aggregate order-processing and clearing functions, repopulating data via the cloud. Acorns works with external developers who wish to use the platform to transform rewards programs into investable cash.
Acorns has pioneered micro investing, enabling a new class of investors.
Funding Rounds (3) - $6.2MUpdate
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