Acorns Revenue, Valuation, Funding & Investors
Acorns is valued at $1.9B as of March 2022, a 26.8x revenue multiple. Acorns revenue was $71M, as disclosed with its latest round.
Last Acorns valuation
$1.9B
Series F · Mar 2022
Last Acorns funding round
$300M
Series F · Mar 2022
Acorns revenue
$71M
Series F · Mar 2022
Key investors in Acorns
Headline
Greycroft
Sound Ventures
Bain Capital Ventures
TPG
Great Oaks Venture Capital
About Acorns
Acorns is an Irvine-headquartered micro-investing platform that rounds up everyday debit card purchases to invest spare change into diversified exchange-traded fund portfolios. Asset managers such as Vanguard and BlackRock supply the underlying low-cost index funds tracking S&P 500 and total stock market benchmarks. The app also features automated recurring investments, retirement accounts, and banking services with FDIC-insured checking. Launched in 2012, Acorns serves customers throughout the United States.
Founded
2012
HQ
Los Angeles, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$71M (Mar 2022)
Valuation
$1.9B (Mar 2022)
Acorns Valuation
Acorns is currently valued at $1.9B, based on its Series F in March 2022. Read the announcement ↗
The $300M round was led by TPG, with participation from Blue Owl Capital Inc..
Acorns' valuation has grown 317x from $6M at its seed round in January 2013 to $1.9B in March 2022, across 4 priced rounds.
Acorns valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2022 | Series F | $1.9B | 26.8x |
| Jan 2019 | Series E | $860M | 19.5x |
| Feb 2015 | Series C | $106M | - |
| Jan 2013 | Seed | $6M | - |
Acorns Revenue
Acorns' latest recorded revenue is $71M, as of its Series F in March 2022. At a $1.9B valuation, that implies a 26.8x revenue multiple.
Revenue grew from $44M in January 2019 to $71M in March 2022, while the revenue multiple moved from 19.5x to 26.8x.
Acorns revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2022 | $71M | $1.9B | 26.8x | Series F |
| Jan 2019 | $44M | $860M | 19.5x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Acorns Funding History
Acorns has raised a total of $510M across 8 funding rounds, plus 1 secondary share sale.
Acorns' first fundraising round was a $3M seed round in January 2013. The most recent completed round was a $300M Series F in March 2022.
Acorns funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Series F | TPG (lead); Blue Owl Capital Inc. | $300M | $1.9B | Acorns, a savings and investing app based in Irvine, California, automates micro-investing by rounding up everyday purchases and investing the spare change, while offering expanded financial services including cryptocurrency exposure, personalized portfolios, and long-term savings tools. The company positions itself as the largest subscription service in U.S. consumer finance, targeting everyday Americans with user-friendly tools for financial wellness and compounding growth. In March 2022, Acorns raised $300 million in an oversubscribed Series F round led by TPG, with participation from BlackRock, Bain Capital Ventures, Greycroft, Owl Rock, Senator Investment Group, Torch Capital, Industry Ventures, Headline, and Kevin Durant & Rich Kleiman’s Thirty Five Ventures, among others. The round delivered a post-money valuation of $1.9 billion, doubling Acorns' prior private valuation and coming after the company abandoned a SPAC merger that had targeted $2.2 billion amid volatile public markets. Acorns CEO Noah Kerner highlighted the funding as validation of the business model in choppy private markets, where investors were scrutinizing valuations closely. The capital is earmarked for accelerating growth, product innovation, user acquisition, expanding offerings like crypto and personalization features, and potential acquisitions, building on total funding raised to over $500 million. At the time, Acorns reported more than 4.6 million paid subscribers, exceeding 2021 public forecasts, and had facilitated over $12.5 billion in customer savings and investments. The company boasts market-leading retention rates and over 9 million total users, positioning it to compete with platforms like Robinhood in the digital-first investing space for a new generation of investors. This private raise reflected strong investor confidence in Acorns' trajectory despite broader fintech market headwinds. |
| Dec 2020 | Secondary | TempoCap | - | - | TempoCap closed a secondary direct portfolio acquisition announced on 14 December 2020, buying the shareholdings of a leading global strategic investor in five financial technology and digital healthcare companies across the United Kingdom, the United States, Switzerland and Germany. The companies transferred were Currencycloud, Azimo, Acorns, dacadoo and simplesurance. The consideration was disclosed only for the package as a whole and no value was attributed to any individual company, and the identity of the seller was not named in the announcement. Olav Ostin, managing partner of TempoCap, said the transaction brought a suite of European scale-up companies into the firm and extended its presence across the global fintech and digital healthcare ecosystems, adding that the firm's expertise in secondary portfolio deals allowed it to price and structure transactions around the specific needs of sellers. The purchase added to a track record of global secondary portfolio investments that had previously brought in assets such as Onfido, Ercom, Launchmetrics and Depop. Acorns was described in the announcement as the leading subscription-based micro-investing platform for millennials. The company was founded in 2012 by Walter and Jeff Cruttenden and is headquartered in Irvine, California. Its mobile app rounds up everyday card purchases to the nearest dollar and invests the spare change into diversified exchange traded fund portfolios, and it has added retirement accounts, a checking account with a debit card, custodial accounts for children and educational content. Acorns charges a flat monthly subscription rather than a percentage of assets, which is the bulk of its revenue, supplemented by interchange and partner referral fees, and it had several million subscribers at the time of the transaction. Other shareholders have included PayPal, BlackRock, Greycroft and NBCUniversal. The company went on to abandon a planned special purpose acquisition merger and raise USD 300 million privately in March 2022. |
| Jan 2019 | Series E | Comcast Ventures (lead); NBCUniversal (lead); KG Investments; DFO Management; BlackRock; Hedosophia; TPG; Bain Capital Ventures; Counterpart Advisors; Headline; DST Global | $105M | $860M | Acorns, a smartphone-based investment and financial services app, raised $105 million in Series E funding in January 2019, achieving a post-money valuation of $860 million. The round included prominent investors such as NBCUniversal, Comcast Ventures, private equity firms DST and MSD Capital, as well as returning investors BlackRock, Bain Capital Ventures, and TPG's The Rise Fund. At the time of the funding, Acorns reported more than 4.5 million customers and over $1.2 billion in assets under management. The company had expanded its product offerings beyond its core spare-change investment feature to include Acorns Later, an individual retirement account, and Acorns Spend, a checking account and debit card service. As part of the investment, Acorns announced a partnership with CNBC to create and distribute personal finance educational content through its app, leveraging NBCUniversal's media expertise to enhance the platform's financial literacy offerings. This $860 million valuation positioned Acorns ahead of competitor Betterment, which was valued at $800 million in its previous round during July 2017. |
| Jul 2017 | Series D | Sound Ventures; Balyasny Asset Management; Nyca Partners; Greycroft; Bain Capital Ventures; Headline | $35M | - | - |
| Apr 2016 | Series D | Sound Ventures; Point72 Ventures; Thirty Five Ventures; Rakuten; Greycroft; Capital Group; Headline | $35M | - | Acorns, a savings and investing app, raised $35 million in a Series D funding round in April 2016, with motivations including product development and customer acquisition. The company has raised funding across multiple rounds totaling over $500 million historically. Acorns continued with additional Series D extensions and later rounds, reaching a $1.9 billion valuation in its 2022 Series F led by TPG with participants including Greycroft and Thirty Five Ventures. |
| Feb 2015 | Series C | Greycroft (lead); Headline (lead); Sound Ventures; Liberty Media; Great Oaks Venture Capital; Jonathan Keidan; THL; MATH Venture Partners | $23M | $106M | Acorns, an investment app that rounds up debit and credit card purchases to automatically invest spare change into diversified portfolios of index funds, raised $23 million in Series C funding in February 2015, co-led by Greycroft and Headline (also listed as e.ventures), with participation from Sound Ventures, Garland Capital, MATH Venture Partners, and others including Great Oaks Venture Capital, Jonathan Keidan, Liberty Media, and THL. The round brought total funding to $32 million since its founding in 2012 by Jeff and Walter Cruttenden. At the time, just seven months after mobile launch in August 2014, Acorns had grown to over 650,000 members, opened 300,000 investment accounts, processed 28 million trades, and linked over a million cards, with 75% of users under 35. Funds were intended to scale operations and innovate products to reduce barriers to saving and investing. Traction metrics highlighted rapid user growth as a mobile-only brokerage disrupting traditional firms by enabling micro-investing. By late 2015, accounts neared 600,000, supporting initiatives like Found Money, which shifted loyalty programs from cash-back to investing spare amounts from brand purchases into users' Acorns accounts, piloted that year and set for 2016 launch. |
| Mar 2014 | Series B | Jacobs Asset Management (lead); Great Oaks Venture Capital; HDS Capital | $6M | - | - |
| Oct 2013 | Series A | Steelpoint Capital Partners (lead) | $3M | - | Acorns raised $2.5 million in its Series A round from Steelpoint Capital Partners in October 2013. The Irvine, California-based company operates as a micro-investing and robo-advisor platform, focusing on spare change investments for young users. This followed a pre-seed round of $300 thousand from Cruttenden Partners in June 2012. |
| Jan 2013 | Seed | Littlebanc Advisors LLC. (lead) | $3M | $6M | Acorns raised a $3M Seed round in December 2012 at a $3M valuation. A follow-on Series A round of $2.5M occurred in September 2013 led by Michael Margolies and Steelpoint Capital Partners. |
Who has invested in Acorns?
30 investors have backed Acorns across its funding rounds, including Headline, Greycroft, Sound Ventures, Bain Capital Ventures, TPG and Great Oaks Venture Capital.
Lead investors include TPG, Comcast Ventures, NBCUniversal, Greycroft, Headline and 3 other investors.
Acorns Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Feb 2015 | |
| Los Angeles, CA | 3 | Participant | Feb 2015 | |
| New York City, NY | 3 | Lead | Feb 2015 | |
| New York City, NY | 2 | Participant | Mar 2014 | |
| San Francisco, CA | 2 | Lead | Jan 2019 | |
| San Francisco, CA | 2 | Participant | Jul 2017 | |
| New York City, NY | 1 | Participant | Apr 2016 | |
| New York City, NY | 1 | Participant | Mar 2022 | |
| Boca Raton, FL | 1 | Lead | Jan 2013 | |
| Englewood, CO | 1 | Participant | Feb 2015 | |
| Phoenix, AZ | 1 | Participant | Jan 2019 | |
| New York City, NY | 1 | Participant | Apr 2016 | |
| Chicago, IL | 1 | Participant | Jul 2017 | |
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Start Free TrialAcquisitions by Acorns
Acorns has acquired 8 companies to date.
Last acquisition by Acorns was on October 13th 2026. Acorns acquired Frich for undisclosed valuation.
Latest Acquisitions by Acorns
| Description | Frich delivers a social finance app for Gen Z users to set spending goals with friends via gamification and social features. San Francisco-headquartered and launched in 2021, the platform integrates with Venmo and Apple Pay, reaching 50,000 downloads in its first year through TikTok campaigns. | Zeta is a San Francisco-headquartered fintech providing digital joint banking accounts and money management tools for couples. The platform offers real-time shared budgeting, automated bill splitting, spending insights, and goal tracking via its mobile app. As a remote-first company, Zeta partners with banks to issue FDIC-insured accounts with features like virtual cards and crypto rewards. Users benefit from seamless transfers, credit score monitoring, and tax optimization tools designed to strengthen financial relationships. | EarlyBird is a fintech platform enabling gifting of investments to children. San Francisco-headquartered, the company offers custodial investment accounts where family and friends contribute stocks, ETFs, and cash gifts. Launched in 2020, EarlyBird integrates with brokerage services for automated investing and personalized financial education tools. | ChroniFI is a personal finance application visualizing cash flow, budgets, and net worth through interactive timelines and forecasts. The software connects to bank accounts and credit cards for automatic categorization of transactions spanning past years and future projections. Available on web and mobile for U.S. users. | |
| HQ Country | | | | | |
| HQ City | New York City, NY | San Francisco, CA | Chicago, IL | Boulder, CO | |
| Deal Date | 13 Oct 2026 | 24 Jun 2025 | 15 May 2025 | 1 Apr 2024 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Acorns Competitors
Acorns competitors include listed companies like eToro, Matsui Securities, Wealthfront and Tradition, and private ones like Moneybox and Masterworks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Israel | Publicly listed | $14B | $277M | $1.8B | 0.7x | |
 Japan | Publicly listed | $312M | - | $1.6B | - | |
| United States | Publicly listed | $365M | ($93M) | $1.6B | 4.4x | |
 Switzerland | Publicly listed | $1.4B | $248M | $2.2B | 1.4x | |
 London | Private | $125M | - | $1.1B | - | |
| New York City, NY | Private | - | - | $1B | - |
Acorns Public Comps
Acorns is still privately-owned, but its public comps include IBF Financial Holdings, BaoViet, Shawbrook Group, Stanbic IBTC Holdings, iFAST Corp, San-in Godo Bank, Aadhar Housing Finance, eToro, GoFintech Quantum and EZCORP.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $268M | - | 7.1x | - | - | - | |||
| $2.3B | $215M | 0.8x | 1.1x | 8.9x | - | |||
| $922M | - | 2.1x | 1.9x | - | - | |||
| $661M | - | 2.9x | 1.9x | - | - | |||
| $348M | $105M | 2.6x | 1.8x | 8.6x | 6.1x | |||
| $777M | - | 2.5x | 1.8x | - | - | |||
| $357M | $286M | 10.6x | 14.2x | 13.2x | - | |||
| $14B | $277M | 0.0x | 0.7x | 2.2x | 2.1x | |||
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Common questions about Acorns
| When was Acorns founded? | Acorns was founded in 2012. |
| Where is Acorns headquartered? | Acorns is headquartered in Los Angeles, CA, United States. |
| Is Acorns publicly listed? | No, Acorns is a private, VC-backed company. |
| What is Acorns' valuation? | Acorns was last valued at $1.9B in its Series F in March 2022. |
| How much funding has Acorns raised? | Acorns has raised $510M across 8 funding rounds. |
| What was Acorns' last funding round? | Acorns' last funding round was a $300M Series F in March 2022, led by TPG. |
| Who are Acorns' investors? | Acorns' investors include Headline, Sound Ventures, Greycroft, Great Oaks Venture Capital, TPG, Bain Capital Ventures, Point72 Ventures, Blue Owl Capital Inc., Littlebanc Advisors LLC., Liberty Media and 20 others. |
| What is Acorns' revenue? | Acorns' latest recorded revenue is $71M (March 2022). |
| What is Acorns' revenue multiple? | Acorns' latest valuation implies a 26.8x revenue multiple ($1.9B valuation on $71M of revenue). |
| Which companies are comparable to Acorns? | Companies comparable to Acorns include eToro, Matsui Securities, Wealthfront, Tradition, Moneybox and Masterworks. |
| How many companies has Acorns acquired? | Acorns has acquired 8 companies, including Frich, Zeta, EarlyBird, ChroniFI and GoHenry. |
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