Fast-growing Irvine fintech firm Acorns Grow Inc. has raised $105 million in its latest funding round, pushing its valuation to nearly $860 million, tripling its value since 2016, the Wall Street Journal reports.
The Series E round was led by new investor, NBCUniversal Media LLC, and included other new backers Comcast Ventures and private equity firms DST and MSD Capital. Existing investors in the round included BlackRock Inc., Bain Capital Ventures, and TPG’s Rise Fund.
As part of the deal, the six-year-old company inked a partnership with CNBC that will include financial literacy content from the business network disseminated through its smartphone app.
In May, the Business Journal reported the company plans to nearly triple the size of its local headquarters near University of California-Irvine following a $50 million anchor investment by BlackRock, the world’s largest asset manager.
Acorns, which developed a micro investment app for consumers, now manages more than $1.2 billion in assets from 4.5 million customers, according to the company.
It has raised $207 million to date, according to data tracker Crunchbase Inc.
