FinTech news in acorns category

The acquisition is notable for a couple of reasons. For one, if the companies have managed to keep their valuations level (valuations have seen a lot of pressure in the last six months) it would be one of the bigger M&A deals between two fintech startups, coming at a time when startups have found it very challenging to raise further funding — either from private investors, or from the public markets by way of an IPO.

Shroder, who was promoted from president to CEO at Binance.US last October, has been focused on gearing up to take the company public since he took the top role. Jasmine Lee is coming on board at the company after serving as CFO and chief operating officer (COO) in a dual role at fintech app Acorns for nearly three years.

Last year, when the company planned to go public via a SPAC, it had projected revenue of $126 million for the year, according to its deck, as analyzed by our own Alex Wilhelm. Savings and investing app Acorns has raised $300 million in a Series F funding round that values the company at nearly $2 billion.