A financial technology titan is investing in financial advice, specifically mobile-friendly roboadvice.
| Walter Cruttenden |
Co-founder & Chairman
Today Irvine, California-based Acorns revealed
the closing of its latest funding round, $30 million in this case, and PayPal
is one of the new investors. Acorns now has more than 850,000 users, though its accounts tend to be small.
, and the Wall Street Journal
all reported on Acorn's big news.
Acorns has now raised $62 million over multiple funding rounds. There is no official word
on its valuation in this latest round, but as of a year ago it was valued
at $83 million and it's likely that the new valuation is higher.
Paypal isn't the only big California tech player that seems interested in roboadvice. In January Reuters reported
that video messaging giant Snapchat
is developing its own roboadvisor technology. Snapchat reportedly raised
another $175 million in funding last month from Fidelity
Neil Anderson, Managing Editor
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