PayPal Stories Archive

 

We recently announced that PayPal was one of a few companies that made a minority investment in Acorns, a mobile-first, micro-investing platform designed to help people build their financial wellness and lead healthier financial lives.  Acorns enables people to save and invest by easily integrating everyday spending with investing.  Acorns’ “Round-up” feature rounds up customers’ transactions to the nearest dollar and invests the change into a diversified investment portfolio. This allows people who are starting to save and invest to build their wealth easily and over time.

 

This investment is a great example of creatively driving our vision for reimagining money, not just within PayPal but externally too.  Acorns and PayPal have a shared vision of democratizing financial services and offering innovative solutions to the people typically under-served by the current system.  The rapid adoption of mobile technology and the digitization of cash have created a seismic shift that’s fundamentally transforming money and commerce.  PayPal is playing a leading role in this transformation, and we feel that our mission is aligned with Acorns as it seeks to play an integral role in customers’ financial lives by linking spending, saving and investing.

 

About 75% of Acorns’ customers are millennials who generally are just beginning to build their long-term savings and are therefore under-served by traditional investment services. We know a lot about millennials through Venmo which continues to set the standard as the way millennials prefer to manage and move their money.  PayPal looks forward to developing its strategic partnership with Acorns to deliver next generation financial solutions and put PayPal at the center of its customers’ financial lives.