Acorns, an Irvine-based money manager that has grown to $6.2 billion in assets by focusing on smaller accounts, said it’s bought two websites that teach money management to children between the ages of 6 and 18.
The acquisition of GoHenry, which was founded in 2012 in the U.K., and its European arm Pixpay will accelerate Acorns’ roadmap to expand information to kids, teens and adults, Acorns said. Together, Acorns and GoHenry have nearly 6 million subscribers.
“All kids around the world deserve access to responsible money management tools and financial education,” Acorns CEO Noah Kerner said in a statement. “GoHenry’s mission-driven approach is perfectly aligned with Acorns, which we expect will help us accelerate our roadmap and deliver financial wellness to the whole family through all of life’s stages.”
Acorns, which encourages small investors to save by investing their spare change into the stock market, currently services 4.5 million Americans.
FT Partners served as the exclusive advisor to Acorns.