INSUBCONTINENT EXCLUSIVE:
Savings and investing startup Acorns has acquired EarlyBird, an investment gifting platform for families, the company told A Technology
The financial terms of the deal were not disclosed.As part of the acquisition, EarlyBird will shut down, and all customer accounts will
officially close on June 23
financial investing with community
Acorns Early offers a debit card designed for kids and teens to help them develop financial literacy and manage their money
education services to 6- to 18-year-olds.Acorns believes that by bringing on Wexler and Frankel, the company will be able to leverage their
experience and passion for the space to enhance Acorns Early
Kerner said in an email to A Technology NewsRoom
that offers access to all Acorns products, including Acorns Early
Customers will receive an email detailing the sign-up process.Acorns notes that EarlyBird users will not be able to transfer their EarlyBird
funds over to Acorns Early
If users want to continue their investing journey with Acorns, they need to withdraw their funds from EarlyBird and open a new account with
On EarlyBird, the feature allowed users to build out time capsules by recording videos at memorable moments in their lives
For example, if a mother received a promotion and wanted to gift a one-time investment to her child, she could record a video talking to her
child about it to commemorate and remember the moment.The acquisition comes as Acorns has doubled its customers on Acorns Gold, its $12 per
The company did not provide an updated valuation.
