Acorns acquires Frich Money adds Gen Z focus
Acorns acquires social finance app Frich Money, a deal whose financial terms were not disclosed.
Frich Money was co-founded in 2021 by Katrin Kaurov and Aleksandra Medina. The app targets Gen Z and millennial users, and it now counts roughly 1.6 million members. Investors include Restive Ventures, TruStage and Antler.
The platform offered a benchmarking tool that let users compare spending, saving, salary and student-loan habits with peers. It also built a community of financial influencers who produced short, social-first literacy videos. Those features are being phased out and merged into Acorns’ existing savings and investment products.
Acorns said the purchase “adds an entry point built on peer conversation, reaching people where they are already talking about money, often before they have decided to invest.”
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Following the acquisition, the Frich co-founders were named co-leads of education and community at Acorns. Kaurov, who ran Frich as CEO, said after five years of “getting people to talk openly about money…Acorns is the natural next step, because it lets us pair that conversation with investing and saving.”
The deal marks Acorns’ ninth acquisition, adding to recent purchases of the family-investment app EarlyBird and the financial-literacy platforms GoHenry and Pixpay. CEO Noah Kerner notes that the company now serves more than 16 million customers across its suite of financial-wellness tools.
Acorns claims it has helped users save and invest over $33 billion since its launch in 2014.
