Savings and investment platform Acorns announced it has acquired EarlyBird, a startup dedicated to facilitating investment gifting and digital memory building for families. Financial details surrounding the acquisition have not been made public.
Following the deal, EarlyBird will cease operations and officially close all customer accounts on June 23. Remaining funds will be returned to the respective bank accounts linked to each customer.
Established in 2019, EarlyBird positioned itself uniquely among fintech companies by allowing family and friends to invest directly for children, combining financial pledges with emotional resonance through digital time capsules. The app let users document significant life moments with video messages, which would then be unlocked along with the gifted funds when children reached adulthood. These investments were commonly aimed at covering education costs, down payments on homes, or starting a first business.
EarlyBird’s co-founders, Jordan Wexler and Caleb Frankel, will now join the Acorns team specifically to support the growth and development of Acorns Early, an initiative launched following Acorns’ earlier purchase of GoHenry, a fintech company providing financial literacy education and money management tools for children and teens aged 6–18.
In a statement on the acquisition, Wexler emphasized the alignment between EarlyBird’s founding vision and Acorns’ broader mission. “When we founded EarlyBird, we envisioned creating a platform that would transform how families leave lasting legacies for their children. Joining forces with Acorns not only reaffirms our vision but significantly expands our ability to impact the financial futures of millions of families,” he said.
Acorns Early currently offers smart financial planning tools designed to help young users develop financial literacy and responsible money habits through a dedicated debit card and educational content. Acorns CEO Noah Kerner indicated that bringing the EarlyBird team into Acorns Early will accelerate the company’s goal of creating a comprehensive financial wellness ecosystem for families at every life stage.
“We’re dedicated to building a complete financial wellness system that supports the whole family, fostering compound financial growth at all stages of life,” Kerner noted. “Our teams share complementary values and insights that will enable us to deliver on this vision faster and more effectively, creating maximum value for everyday American families.”
Existing EarlyBird customers will receive a complimentary one-year subscription to Acorns Gold, allowing access to the entire suite of Acorns’ products, including Acorns Early. The subscription details and signup procedures will be communicated to customers via email. However, EarlyBird users should note that their funds with EarlyBird will not transfer automatically to Acorns Early; to continue their investing journey, they must withdraw their funds from EarlyBird and open a new account with Acorns.
In addition, Acorns indicated plans to introduce EarlyBird’s popular digital time capsule feature into the Acorns Early platform later this year. This feature has allowed adults to record commemorative videos marking special events, such as receiving promotions or celebrating milestones, enhancing their financial gifts with personal memories.
The acquisition coincides with a period of significant growth for Acorns, which has seen its Acorns Gold subscriber base double within the past twelve months. The company previously secured $300 million in funding in March 2022 and, at that time, was valued at approximately $2 billion. Updated valuation details post-acquisition have not been disclosed.
