Savings and investment app Acorns has acquired the assets of EarlyBird, a platform focused on “family wealth and digital memory” for kids. Financial details of the transaction have not been disclosed.
Founded in 2019, EarlyBird is a mobile app that enables parents and loved ones to invest in the financial futures of their children. Users can create investment accounts that allow family and friends to contribute funds and attach “digital memories” like notes, photos, and videos.
This acquisition reinforces Acorns’ strategy of catering to families, following its 2023 purchase of British money management company GoHenry and the launch of Acorns Early.
As part of the transition, EarlyBird will cease operations, with its approximately 250,000 users’ accounts closing in June, while offering the opportunity to migrate to Acorns. Co-founders Jordan Wexler and Caleb Frankel will join the Acorns team.
Frankel stated, “We have such strong alignment in our core values and a shared commitment to financial accessibility and education. With Acorns, we’ll create even more meaningful family experiences around money.”
Acorns CEO Noah Kerner remarked, “This deal with EarlyBird and its talented founders marks another important step in our journey to becoming a comprehensive financial wellness app for everyday families.”