California based Acorns has raised incremental Series E financing from Comcast and NBCUniversal at an $860m valuation.
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Comcast & NBCUniversal invest in fintech app Acorns with a deal to produce content through CNBC
NBCUniversal and Comcast Ventures are taking a bet on millennial-focused financial technology app, Acorns. The companies announced an equity investment in the start-up on Monday that includes a strategic partnership with Comcast-owned CNBC to produce original content with Acorns. The two will team up on articles, videos and eventually live conferences with the aim of increasing financial literacy, the companies said. The investment was part of Acorns' latest $105 million funding round, which puts its valuation at $860 million. BlackRock, Bain Capital Ventures, TPG's Rise Fund, DST and Michael Dell's MSD Capital also took part in the Series E round. NBCUniversal, which is now Acorns' biggest shareholder, will also receive a seat on the start-up's board. It will be filled by CNBC Chairman Mark Hoffman.
