Acorns acquires Frich, a 1.6 million-member community where young Americans learn about money from each other
Acorns has acquired Frich, bringing its community of 1.6 million people and its network of creators producing financial education content into the Acorns app.
Acorns has acquired Frich, bringing its community of 1.6 million people and its network of creators producing financial education content into the Acorns app. No financial terms were given in the announcement.
Frich lets young adults learn money management from peers through group chats, comment threads and creator videos, and offers a benchmarking feature that shows members how their financial habits compare with others. Co-founders Katrin Kaurov and Aleksandra Medina join Acorns as co-leads of education and community.
Acorns, founded in 2014, offers investing, retirement, banking and kids' accounts and says it has served more than 16 million people. CEO Noah Kerner said investing is intimidating and doing it with others helps people get past that; Kaurov said Acorns lets the conversation Frich built over five years be paired with saving and investing.
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