Investing your money in the stock market can be an important step to building long-term wealth and financial stability. However, many Americans struggle with saving enough money to even begin investing. What if there were a way to automate the saving process—preferably in a way that isn't too onerous, but that still manages to put away a little bit of money here and there?
Enter Acorns, a micro-investing app that rounds up your purchases to the nearest dollar and invests the difference for you. The app has been a hit with millennials, who appreciate the ease of use and low cost. Now, Acorns is expanding its reach even further by acquiring UK-based youth banking app GoHenry.
The news: US-based investing app Acorns has acquired UK-based youth banking app GoHenry as both fintechs have visions to serve the whole family. Acorns, which has a user base of over 8 million people, aims to bring its platform to a younger audience, while GoHenry has built a digital banking platform for children and teenagers. The acquisition is an equity deal, and will give Acorns a foothold in the UK and Europe.
Micro-investing fintech Acorns has acquired child and teen-focused digital banking startup GoHenry to fuel an expansion into Europe. The equity deal means that Acorns will gain a foothold in the U.K. and Europe, where GoHenry, the challenger bank it acquired, already has an established presence.
Acorns Checking is Acorns' online banking feature that customers use to save and invest in the background of life. With the acquisition of GoHenry, Acorns will be able to expand its reach to even more users, particularly those in Europe who are interested in digital banking solutions for their children.
If you're ready to begin your investing journey, here's a step-by-step guide on how to invest in stocks to help get you started. It's important to remember that investing is a long-term game, and it's important to have patience and discipline in order to see the best results.
One popular investing strategy is dividend investing, which emphasizes buying stocks, mutual funds, or ETFs that pay significant dividends to their shareholders. This can be a great way to generate passive income and build wealth over time.
Your investment portfolio is a collection of all the assets you own. That includes investments across different asset classes, such as stocks, bonds, and real estate. It's important to diversify your portfolio in order to reduce risk and maximize your returns.
Overall, Acorns' acquisition of GoHenry is a significant move for the micro-investing app as it expands its reach into the European market. With the growing popularity of digital banking solutions and the increasing interest in investing among younger generations, Acorns is well-positioned to continue its success in the years to come.