Despite representing a major share of global markets, families and children have largely been left by the wayside in the ongoing fintech revolution. Apart from the occasional kid-friendly financial service offered by major brands like Revolut and a few others, young families have been left without significant options for bringing their finances into the modern era.
Closing that gap is exactly what micro-investing fintech Acorns has set as its mission. Already boasting six million monthly subscribers for its services that focus on investing small amounts of money, Acorns is looking to bring its popular offerings to families across the Americas and Europe. And with the recently announced all-stock acquisition of financial education subscription fintech GoHenry, Acorns is set to ramp up its technology and business strategy in a big way.
“We pioneered kids and teens with GoHenry, and Acorns very much pioneered investing and saving and bringing mental wellness to the up and coming, to everyday America,” said GoHenry’s Founder and Chief Operating Officer, Louise Hill, in an interview with CNBC on the acquisition. “Both of us had ambitions to stretch beyond that in terms of customer demographics, so that we could start to serve people throughout their lifecycle, through all life stages.”