The investing and savings start-up announced a $105 million Series E funding round, bringing Acorns’ valuation to $860 million. Acorns has previously signed a deal with CNBC to provide content for the mobile platform aimed at boosting financial literacy.
“This partnership with Acorns builds on CNBC’s 30-year commitment to democratizing the financial markets, helping generations invest for their future,” said Hoffman. “We are excited to bring together two brands with this shared social purpose to drive value to our viewers, users and customers.”
“We aim to put the tools of wealth making in everyone’s hands and this includes helping all Americans grow their money knowledge,” said Noah Kerner, CEO at Acorns. “Collaborating with the powerhouse that is CNBC will take these efforts to entirely new heights for our customers.”
The latest valuation is more than 3 times what it was after its 2016 funding round. Acorn offers several financial products, including Acorn Spends, a checking account with a debit card that saves automatically along with Acorn Later, an IRA product that lets customers instantly sign up for an account.