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The acquisition is notable for a couple of reasons. For one, if the companies have managed to keep their valuations level, it would be one of the bigger M&A deals between two fintech startups coming at a time when startups have found it very challenging to raise further funding. Second, it will add a number of new backers to Acorns’ cap table. Lastly, this gives Acorns an opening to grow internationally, starting with GoHenry’s existing footprint across the U.K., France, Italy and Spain.
“Both of us have been dreaming about this idea for financial wellness for the whole family for a long time,” Kerner told TechCrunch in an interview, noting that the companies have been in conversations for two years. “So being able to serve kids, teens and adults holistically inside one company globally is really exciting.”
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