By Zoran Temelkov June, 2022
The California-based fintech startup Acorns Grow Inc. managed to raise $300 million on March 9th, 2022, from investors in a funding round led by the private equity firm TPG.
With March 2022 Series F funding round, the company is valued at around $2 billion. The 2022 series funding more than doubled the valuation of the startup founded in 2012 since its last funding round in 2019.
Acorns realized a total of 12 funding rounds since its inception, and in early 2019 the company raised $105 million through Series E funding valuing the company at $860 million.
The funding round attracted participation from well-known institutional investors such as BlackRock, Bain Capital Ventures, Owl Rock, Senator Investment Group, Torch Capital, Galaxy Digital, etc.
The company plans to use the latest capital injection to boost its growth, attract more paid users and offer new types of assets in its portfolio, such as cryptocurrencies.
According to company statements, it serves more than 8 million customers and has more than $3 billion in assets under management.