The OutCast Agency is guiding PR for Acorns, the fast-growing investment app popular with younger users that rounds up spare change and invests it in various funds.
The app, which has grown to more than 650K members in seven months, locked up $23M in a Series C round of funding closed on April 15. It links users’ bank accounts and rounds up purchases to the nearest dollar, depositing the extra change into an exchange traded fund or similar investment and charging a fee.
Greycroft Partners and e.ventures led the latest round of funding, which will go toward partnerships, global expansion and development of a desktop interface.
Acorns CEO Jeff Cruttenden said, said his company has the potential to create more investors than any other brokerage firm. “We are expanding the pie by empowering people who thought investing was only possible later in life,” he said.
OutCast is part of Next Fifteen Communications Group.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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