Acorns the Newport Beach wealth management startup has raised a $30m Series D, led by Paypal and Rakuten.
PayPal contributed the majority of the investment. The raise brings Acorns’ total funding to $62 million and aligns it with the biggest name in financial technology. Acorns’ goal is to capture millennial investors by boiling down the act of investing to small decisions, cofounder Jeff Cruttenden tells Business Insider. The startup uses a portfolio of low-cost ETFs (exchange-traded funds) to boil investing down to two questions: "how much" you want to invest and "how much risk" you want to take.