Acorns raises $105 million Series E, valuation tops $860 million

The fintech startup Acorns is now valued at $860 million, CNBC reports. In the latest funding round, led by NBCUniversal and Comcast Ventures, the company got $105 million in funding.

This millennial-oriented app enables smart investments by automatically investing small change left over from credit and debit card payments. It also offers education on fiscal matters. After the newest round of funding, Acorns is pairing up with CNBC to produce new content to further raise financial literacy and help people make smarter financial decisions. According to Acorns CEO Noah Kerner, the partnership with CNBC “will allow us to serve you even better with a wider array of resources designed to help you thrive financially.”

"This partnership with Acorns builds on CNBC's 30-year commitment to democratizing the financial markets helping generations invest for their future," CNBC Chairman Mark Hoffman said in a statement. "We are excited to bring together two brands with this shared social purpose to drive value to our viewers, users and customers."

With the new funding, Acorns should be able to expand its product offerings. At the moment, Acorns doesn’t allow crypto investments due to value fluctuations; however, other US millennial-favored fintech apps like Robinhood and Cash App do.