Irvine, California-based savings and investing platform Acorns acquired money management and financial education platform GoHenry and its European division Pixpay for an undisclosed sum.
The transaction is an all-stock deal through which GoHenry's backers will be added to Acorns' capitalization table.
The acquisition will enable Acorns to expand into the U.K., France,
Italy, and Spain. The merged entity will reportedly have over 6 million
subscribers.
- Acorns was last valued at $1.9B at its $300M funding round in March 2022.
- It scrapped its IPO plans via a SPAC merger in January 2022 due to volatile market conditions.
- To date, Acorns has raised over $500M from TPG, BlackRock, Greycroft, Owl Rock, Bain Capital, Thirty Five Ventures, and others.
- GoHenry's valuation at its $55M round in October 2022 is estimated to be between $250M and $500M.
- The British startup posted $42M in revenue in 2021.
- GoHenry
has raised $125M in venture funding to date from investors including
Edison Partners, Gaia Capital Partners, Citi Ventures, and Muse Capital.
