World famous US actress and singer Jennifer Lopez joined the caravan of celebrities who invested in Fintechs. Lopez and his former baseball player lover Alex Rodriguez became shareholders of Acorns Grow, a savings and deposit fintech that wanted to be a bank alternative.
Jennifer Lopez, a singer and actress from the world, joined the caravan of celebrities who recently invested in the popular sector of fintech. Lopez and his former baseball player lover Alex Rodriguez became shareholders of Acorns Grow, a savings and deposit fintech that wanted to be a bank alternative. More famous US actor Asthon Kutcher and NBA star Kevin Durant invested more than Acorns Grow.
Paypal, BlackRock and NBCUniversal are also among the investors of Acorns Grow, users rounded off their purchases with Acorn cards, the remaining portion of the deposit account is directed. In this way, users can make savings without realizing it.
Target: 100 million users
According to the news in The Wall Street Journal, Acorn’s CEO and Jennifer Lopez’s former DJ, Noah Kerner’s plans include changing the company from a niche savings application to a bank alternative with 100 million users. Kerner says that their focus is on American citizens to make savings and investments for their future thanks to their practices, and that they hope to ensure that their future Kevin Durant and Jennifer Lopez will reach their dreams.
5 million users
What distinguishes Acorn from banks and competitors is that there are no ATM fees, cash advance fees or minimum balance requirements. Instead, the company charges a monthly usage fee of $ 1 to $ 3 per month, saving up to $ 1 million. Monthly subscription fees are the largest portion of the company’s revenue source. Acorn, which has been in a rapid growth since Kerner became CEO in 2015, reached 5 million accounts from 220 thousand accounts. Half of these accounts are actively saving and investing.
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