Acorns Grow Inc. is rumored to be seeking new funding from investors that would give it an estimated worth of $700 million.
An exciting Orange County-based growth startup that offers digital wealth management services, Acorns is said to be raising more than $100 million in a new investment round.
According to Bloomberg News, no one would identify the backer and Acorns has declined to comment but a large corporate investor is said to be leading the funding.
The U.S. Securities and Exchange Commission states that Acorns Grow Inc. has more than $1 billion in assets under management. The Irvine, California based startup has had around 4 million people sign up for their app to help collect their extra cash into exchange-traded funds that are managed by Vanguard Group Inc., BlackRock and others.