IRVINE, Calif., Aug. 26, 2015 /PRNewswire/ -- Acorns, the leading saving and investing app that automatically invests the spare change from debit and credit card purchases, today marks its one-year anniversary in app stores. More than one million people have signed up since its launch on August 26, 2014, capping off a year of remarkable growth for Acorns that saw the company launch products for desktop, Apple Watch and Android Wear.
Founded with the purpose to create investors out of those who had been prevented by high account minimums and fees, Acorns continues to eliminate the barriers to traditional investing. 70,000 investors are engaging with the Acorns app every day, setting themselves up for a brighter financial future.
Just in time for students heading back to college campuses nationwide, Acorns recently announced no fees for investors under 24, making it easier than ever for students to save while they manage expenses that come with a new school year (tuition, books, rent, etc.). Since the no-fee announcement, 26,000 students have signed up (a 60% daily avg. increase). Adding to the 70% of Acorns' 465,000 accounts that are investors under 35.
"It is great to see so many people beginning to save and invest at an earlier age with Acorns - they are putting the power of compounding interest on their side," said Walter Cruttenden, co-founder of Acorns. "The fact that they have chosen the Acorns app speaks to the strength of the design and engineering team. Our creatives just love to dream up new innovations to make saving and investing easier."
About Acorns Grow Inc.
Acorns is the fastest growing savings and investment app. It allows people to round up their daily purchases and automatically Invest the Change® into a commission-free diversified portfolio of index funds offered by the world's top asset managers (Vanguard, Blackrock and PIMCO). Founded in Newport Beach, California by father and son team Jeff and Walter Cruttenden, Acorns provides a simple entry-point for anyone to get started using the Acorns app on iPhone or Android. The app and financial engine were built with natural human behavior in mind to help inspire realistic investment strategies that can be held for the long term. Customers accumulate fractional shares and automatically save and invest into a portfolio constructed by world-renowned Nobel Laureate economist Dr. Harry Markowitz. Acorns' smart portfolio algorithms automatically work behind the scenes, helping people build wealth naturally, pennies at a time. From Acorns mighty oaks do grow!
Acorns Grow Inc. (d/b/a/Acorns) is the parent of Acorns Securities LLC, a member of FINRA and SIPC, and Acorns Advisers LLC, an SEC registered investment adviser.
This is not an offer or a solicitation to buy or sell securities. Investing involves risk. Investments are not FDIC or NCUA insured. Projections are hypothetical in nature. Brokerage services are provided to Acorns Advisers LLC by Acorns Securities LLC, member of FINRA/SIPC.