16 May Simplified Investing App: Acorns
One April 21, Paypal announced it would invest millions to mobile investing app Acorns. In its most successful funding round to-date, Acorns brought in a cool $30 million, growing their funding total to over $62 million.
Acorns is a father-son team with a simple and direct mission: simplify how millennials invest. More importantly, co-founders Jeff and Walter Cruttenden are boiling down the investment process to make growing your wealth as accessible as possible. Ultimately, account users only need to make two considerations: amount and risk.
With its positioning as an accessible, intuitive and smart investing app, Acorns looks to build off this surge in moment and will likely enjoy continued growth. This is a great tool for on-the-go millennials looking for a tool that highlights transparency and simplification. Acorns allows investors to tie their investing with everyday purchases, exercising full control over when and how you contribute to your account.
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Invest spare change automatically from everyday purchases
into a diversified portfolio
Using low-cost ETFs (exchange-traded funds), Acorns brings a high-impact, and visually appealing option for managing wealth and contributing to it with purchases that you make everyday
Investing App’s Three Ways to Contribute
One-Time Investment – With Acorns, users can choose individual investment amounts from $5 to $50,000. This is a good starting place for new users just opening an account.
Recurring Investments – You can schedule daily, weekly or monthly investments that allow you to grow your wealth on a continual basis.
Micro-investing w/ Everyday Purchases – One notable feature of Acorns’ investing interface is the use of micro-investing, automatically rounding up your purchases to the nearest dollar. This is a convenient and fun option for someone looking to add small dollar amounts to their investing portfolio on a regular basis. That 40 cents leftover from each $1.60 americano you grab at the local coffee shop? Have it dropped directly into your Acorns account.
The premise here: “small change adds up.”
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