Acorns statistics 2026: assets under management (AUM), number of users, revenue, & more

Acorns is a fintech company that has grown into one of the most recognisable micro-investing platforms in the United States, aimed at users looking to build the habit of saving and investing for the long term. As of 26 August 2026, Acorns says it has served over 16 million all-time customers, who have invested over $33 billion since inception.

Those two headline numbers are the ones Acorns puts on its own homepage, and they are widely reprinted as though they were a user count and a figure for assets under management (AUM). They are neither. Both are cumulative totals measured since 2014, so neither can ever fall, and neither tells you how much money Acorns actually manages today. The figure that does is filed with the Securities and Exchange Commission (SEC): Acorns Advisers reported AUM of $13,386,348,075 as of 31 December 2025, roughly 2.5 times smaller than the $33 billion that circulates online.

In this article, we work through the Acorns statistics that can actually be sourced to a document Acorns or a regulator published: AUM, users, pricing, revenue, valuation, and the regulatory structure behind the app. Where a number is repeated everywhere but supported nowhere, we say so rather than reprinting it. One other figure worth having up front: since the August 2026 price rise, a Bronze subscriber needs about $19,200 invested before the flat $4 monthly fee costs less than a standard 0.25% fee would.

Overview

Acorns is a popular robo-advisor that offers automatically managed exchange-traded fund (ETF) portfolios and allows clients to round up their debit and credit card transactions to the nearest dollar, investing the difference in a diversified portfolio. This “round-up” feature is one of the company’s defining product hooks, making investing more accessible and habit-forming for many users.

Portfolios are constructed based on each user’s investment goals, time horizon, and risk tolerance, making it easier to invest in a way that aligns with personal financial objectives. Acorns also offers a range of financial education resources through Acorns Learn and its Money Lab partnership with behavioural economist Shlomo Benartzi.

Over time, Acorns has consistently expanded its product suite. The features listed on acorns.com today are:

• Acorns Invest: automated round-up investing in diversified ETF portfolios;
• Acorns Later: individual retirement accounts (IRAs), including Traditional, Roth, and SEP IRAs;
• Acorns Checking: a checking account with debit card, insured by the Federal Deposit Insurance Corporation (FDIC) at the partner bank level, with integrated round-ups. Available on every tier;
• Emergency Savings: a separate savings balance paying a higher rate, included from the Silver tier upwards;
• Acorns Money Manager: launched in October 2025, it splits incoming deposits automatically across spending, saving, retirement and investing. Gold tier only;
• Acorns Early: custodial accounts for children under the Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA), alongside the Early debit card and app;
• Acorns Earn: a rewards programme that gives users bonus investments on purchases with partner brands;
• Acorns Learn: financial education content;
• GoHenry by Acorns: kids’ debit card and money app acquired in 2023 to build long-term family financial habits.

One note on product naming: the Mighty Oak card brand that Acorns used for its checking and savings product no longer appears on the homepage or the pricing page, which now simply read “Checking & Emergency Savings”. Acorns has not announced a retirement of the name, so treat any Mighty Oak reference in older articles as dated rather than wrong.

In terms of pricing, Acorns runs a subscription model with three tiers: Bronze at $4 per month, Silver at $8 and Gold at $12, with no account minimum. The pricing section below covers the August 2026 increase and what a flat fee actually costs at different balances.

Here are some key corporate facts about Acorns:

• Founded: 2012 (app launched in 2014);
• Headquarters: Irvine, California, United States;
• Founders: Walter Wemple Cruttenden III and Jeffrey James Cruttenden;
• CEO and Chairman: Noah Kerner;
• Sector: Financials;
• Industry: robo-advisor, investment management, micro-investing;
• Ownership status: private. Acorns has never filed a registration statement (Form S-1) with the SEC and is not listed on any exchange;
• Number of employees: not published by the company.

A word on that last point, because it comes up constantly. Acorns’ entire filing history with the SEC as an issuer consists of six Form D notices between 2013 and 2019 and nothing else. No S-1, no prospectus, no quarterly or annual report. Headcount has never been disclosed at all, and revenue, subscriber numbers and profitability have not been disclosed since 2021, so a precise current figure for any of them is an estimate from a data vendor rather than something Acorns has said.

Ownership

Acorns is a privately held company, with ownership split among its founders, institutional investors, and employees. The company was co-founded in 2012 by Jeffrey James Cruttenden and his father Walter Wemple Cruttenden III.

The figure you will see everywhere for total funding is “$588 million across 11 rounds”. No primary source supports it. Acorns’ issuer record on the SEC’s EDGAR database, under Acorns Grow Incorporated, contains six Form D notices filed between May 2013 and February 2019, and nothing after that. The largest of them, filed on 7 February 2019, reports a $250,172,685 offering of which $180,005,988 had been sold. The later rounds were never filed on Form D, so the Form Ds cannot simply be added up into a current total. The commercial databases that carry a total do not agree with the “11 rounds” either: Crunchbase lists 15.

What is firmly on the record is the most recent round: a $300 million Series F announced on 9 March 2022, led by TPG, at a valuation of $1.9 billion confirmed on the record by CEO Noah Kerner. That is the last valuation Acorns has disclosed.

Acorns investors

Investors named in the Series F announcement include TPG, BlackRock, Bain Capital Ventures, Galaxy Digital, Greycroft, Owl Rock (now Blue Owl), Senator Investment Group, Torch Capital, Industry Ventures, Headline and Thirty Five Ventures. PayPal led a $30 million investment in 2016. Rakuten and other names appear in earlier rounds through secondary reporting rather than through an Acorns announcement.

Acorns users

Acorns grew quickly in its early years. According to the investor presentation Acorns filed with the SEC in May 2021, it took 12 quarters to reach its first million subscribers, then seven quarters to reach 2 million, four to reach 3 million and three to reach 4 million. Note the word there: subscribers, meaning people paying a monthly fee. That is a much narrower measure than “users”.

This is where most Acorns statistics pages go wrong. Acorns has published at least four different headline numbers over the years, plus some looser early wording that maps to none of them, and they are not interchangeable:

• Sign ups: everyone who ever created an account;
• All-time customers: everyone the company counts as having become a customer since 2014;
• People served worldwide: the same idea, but including the international GoHenry and Pixpay base;
• Subscribers: people actually paying a monthly fee. Acorns has disclosed this exactly once, in the 2021 materials for its proposed special purpose acquisition company (SPAC) merger.

How different are they? In October 2022 the Acorns homepage displayed “9 million all-time customers” and “Over 11 million sign ups” at the same time, on the same page. A series that takes one metric in one year and a different metric the next will appear to fall even though nothing has declined. Every cumulative figure Acorns publishes is monotonic by construction, so any drop in a published Acorns user series is an artefact of the metric changing, not a loss of users.

The table below therefore does not give a figure per year. It gives each figure Acorns itself published, the date it applied to, and the words Acorns used, so you can see which ones are comparable with which.

User figures published by Acorns

The June 2025 figure of 15.5 million is higher than the October 2025 figure of 14 million for the same reason: the June one says worldwide, and the October one does not. Read as a series they look like a loss of 1.5 million customers in four months. They are two different populations.

The practical takeaway for anyone quoting Acorns today: the current number is over 16 million all-time customers as of 26 August 2026, and it means everyone who has ever been a customer since 2014, not people using the app this month. Acorns publishes no current figure for active users, funded accounts or paying subscribers. The only subscriber count it has ever disclosed is the 4.3 million in the table above, from June 2021.

Acorns AUM

Acorns does not publish its assets under management in its marketing at all. The only place it appears is the Form ADV Part 2A wrap fee program brochure that Acorns Advisers, LLC is required to file with the SEC, where the wording is “Acorns total Assets Under Management”. Those brochures give three clean, dated data points:

Acorns AUM, as filed with the SEC

That works out at a two-year compound annual growth rate of 27.7%, which is a genuinely strong number. The AUM itself, $13.39 billion, is around 2.5 times smaller than the $33 billion that circulates online.

Why the $33 billion number is not AUM

The $33 billion on Acorns’ homepage, and the $30 billion it replaced in August 2026, is a different metric entirely. Acorns’ own wording is “invested since inception”. It is the cumulative gross amount customers have put into the platform since 2014. It counts every dollar once, including dollars that were later withdrawn, and it can never fall, even in a market crash. AUM is a balance at a point in time and can fall sharply.

Both are real Acorns figures. They just answer different questions, and treating the cumulative one as AUM overstates the money Acorns manages by around 2.5 times. Here is the cumulative series, which is worth having in its own right:

Total invested with Acorns since inception

One important caveat on older AUM tables. Because a brochure published in a given month can still carry the AUM from 31 December of two years earlier, anyone scraping these filings by publication date rather than by the as-of date produces a series that is shifted by a year or two. That is exactly how “$8.2 billion in 2024” and “$10 billion in 2025” entered circulation: those are the figures for 31 December 2023 and 31 December 2024. We have found no primary source for any Acorns AUM figure before 31 December 2023, so we do not publish one.

Acorns pricing and the August 2026 price rise

This is the Acorns statistic that changed most recently and has been covered least. On 17 August 2026, Acorns raised the price of its two lower tiers by a third. The change is set out in the Form ADV wrap fee brochure Acorns filed with the SEC on 3 August 2026, and in the Program Agreement effective 2 September 2026, both of which spell out the two prices and the cut-off date.

It was not the first rise. On 1 July 2024 Acorns lifted Silver from $5 to $6 and Gold from $9 to $12, with an opt-out offered to existing Silver subscribers, and renamed the tiers from Personal Plus and Premium to Silver and Gold about seven weeks later. Between the two changes, Gold has gone from $9 to $12 and Silver from $5 to $8 in a little over two years.

Acorns subscription tiers

Customers who signed up on or before 16 August 2026 keep the old $3 and $6 prices, so the two prices run side by side. Gold was left alone this time.

What each tier includes:

• Bronze: the Invest account with Round-Ups, Acorns Later (the individual retirement account, or IRA), Acorns Checking, Earn and Learn;
• Silver: everything in Bronze, plus Emergency Savings paying 3.59% annual percentage yield (APY) as of 22 September 2026, a 1% match on new Later contributions, and a bonus investment match;
• Gold: everything in Silver, plus a 3% Later match, investment accounts for children, Custom Portfolios, Money Manager, the Acorns Early debit card, free tax filing and a $10,000 life insurance policy.

There is also Acorns Assist at $1 a month, available on an attestation of financial hardship, and no account minimum on any tier.

What a flat fee actually costs

A flat monthly subscription behaves very differently from the percentage-of-assets fee most robo-advisors charge. It is punishing on a small balance and cheap on a large one. Here is what each tier works out to as an annual percentage of the amount invested:

The break-even point moved

The industry-standard percentage fee for a basic robo-advisor is 0.25%, which is what Wealthfront, Betterment above its threshold, and SoFi’s automated service all charge. The balance at which an Acorns subscription costs the same as 0.25% is the single most useful number for deciding whether Acorns is good value, and the August price rise moved it:

Below $19,200, a Bronze subscriber pays more than they would at a percentage-based provider, and the gap widens the smaller the balance.

That is a structural feature of the model rather than a criticism. A percentage-based robo-advisor earns 25 cents a year on a $100 account, so it has no reason to want one, and several set minimums to keep them out: Vanguard Digital Advisor asks for $100 to open and Betterment applies its flat fee precisely because a percentage would be uneconomic at that size. Acorns asks for nothing, which is the trade it is making. The flat fee is what buys a $50 account the same portfolio a $50,000 account gets.

The comparison also flatters the percentage providers in one respect, because it sets gross fee against gross fee. Silver and Gold subscribers who opt in get a match on new Acorns Later contributions, 1% and 3% respectively, and on a maxed-out IRA the Gold match is worth around $225 a year against a $144 fee. Read the terms before counting on it: the match applies only to new contributions, not to rollovers or transfers, it is capped at that percentage of the annual IRS contribution limit, money must stay in the account for four years, and downgrading to Bronze inside that window forfeits the lot. It is a real benefit for someone genuinely funding a retirement account every year, and worth nothing to someone rounding up coffee purchases.

Acorns is not alone in repricing. Betterment raised its own flat tier from $4 to $5 a month effective 5 January 2026, and lifted the balance above which customers move to its 0.25% fee from $20,000 to $24,000. In the same change it cut the recurring deposit that also triggers the 0.25% rate from $250 to $200 a month, so a regular investor can still avoid the flat fee. Two of the largest flat-fee models in the US market moved in the same direction within eight months of each other.

For comparison, here is what the main alternatives charge today:

Why there is no Acorns average account balance

Acorns does not publish an average account balance, and it cannot be calculated honestly from what it does publish. To work out an average you need an asset total and an account count measured on the same basis on the same date. Acorns publishes an asset total (AUM, in its Form ADV) and a customer count (all-time customers, on its homepage), and those two things are as far apart as two numbers can be: one is a balance today, the other is everyone who has ever signed up over twelve years.

Dividing $33 billion by 16 million, or $13.39 billion by 16 million, gives you a number. It does not give you an average balance, and we do not publish one.

The peers that do publish both numbers together put Acorns’ likely position in context:

Average balance where both figures come from one source

We cover both platforms in more depth in our Wealthfront statistics and Robinhood statistics articles.

The gap is the point. The two businesses recruit completely different customers: Wealthfront’s own registration statement says more than 180,000 of its clients held $100,000 or more as of 31 July 2025, while Acorns is built around investing spare change with no account minimum at all. That difference is why the shape of Acorns’ fee matters so much, which is covered in the pricing section above.

Acorns valuation and the IPO that is not happening

Acorns is not preparing to go public, and the widely repeated “$2.2 billion IPO in May 2026” does not exist. The claim turns up constantly in search results, so it is worth setting out what the record actually shows.

Acorns has never filed a Form S-1 with the SEC. Its EDGAR record contains six Form D notices and no registration statement, no prospectus and no periodic reports. It is not listed on any exchange and has no ticker. Its own press releases, checked to 28 September 2026, contain no IPO announcement.

The “$2.2 billion listing” stories that surface in search results are 2021 coverage of the SPAC deal, not 2026 news. Acorns agreed in May 2021 to merge with Pioneer Merger Corp, a special purpose acquisition company (SPAC), in a transaction whose press release assigned Acorns “an expected pro forma, fully-diluted equity value of $2.2 billion”. The Business Combination Agreement filed with that announcement set the Equity Value at $1.5 billion. Pioneer and Acorns mutually terminated the agreement on 15 January 2022.

One more trap worth naming: several sites quote an “Acorns share price” of a few dollars. Those are bid indications on private secondary marketplaces such as Forge and Hiive, not a listed price, and they are not comparable to a share price on an exchange.

The last valuation Acorns itself has disclosed is $1.9 billion, from the March 2022 Series F.

Acorns valuation history

Acorns revenue

Acorns has published nothing about its revenue since 2021. It is private, files no periodic reports, and has never published audited financial statements. Figures in the $400 million to $450 million range circulate widely for 2025. They come from data vendors and aggregator sites, disagree with each other by roughly a factor of two, and none of them cites an Acorns document, so we do not reprint them.

The only financial figures Acorns has ever made public came out of the 2021 SPAC process, and they are now five years old and attached to a deal that was cancelled. They are still worth having, because they are the only real numbers on the record.

In the investor presentation filed with the SEC on 27 May 2021, Acorns disclosed that 79% of its 2021 calendar-year revenue came from monthly subscriptions and 21% from non-subscription sources: debit card interchange, brand partnerships through Acorns Earn, and bank fee negotiations. On the May 2021 webcast the company put it as “nearly 80%” and “the other 20%”.

The table below gives the revenue the deck disclosed alongside adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which is the profitability measure Acorns chose to report.

Acorns revenue and adjusted EBITDA disclosed in 2021

Two things to flag about that table. The deck labels the 2019 and 2020 figures “preliminary and subject to change”. And adjusted EBITDA is not operating income: the presentation defines it as operating income plus depreciation and amortisation, stock-based compensation and payment-in-kind brand and product development. The operating loss figures of $109 million and $65 million that appear in some articles are not in the filing.

Acorns also filed two sets of projections four months apart, the May one on a calendar-year basis and the September one on a fiscal-year basis. Both are projections from a transaction that never completed, so neither was ever tested against results.

Revenue projections filed with the SEC in 2021

Between May and September 2021 Acorns cut its own 2023 outlook from $309 million to $280 million, which is a useful reminder of how much weight to put on any projection. On the profitability side, the May deck projected Adjusted EBITDA of ($71M) in 2021, ($74M) in 2022 and ($34M) in 2023: no profit expected anywhere in the plan, which was normal for consumer fintech in the low-interest-rate era.

What has happened since is genuinely unknown. Interest rates rose sharply after 2022, which should have helped a business holding customer cash, and Acorns has raised prices on its entry tiers twice since 2024. But Acorns has not confirmed revenue, profitability or subscriber numbers at any point since 2021, and with no S-1 in prospect there is no mechanism that would require it to.

How Acorns is regulated and what is protected

Acorns is often described as “regulated by the SEC and the Financial Industry Regulatory Authority (FINRA)”, which blurs two separate registrations into one. The structure matters, because the protections attached to each entity are different.

Acorns Securities does not self-clear. It holds customer cash and securities in omnibus accounts at RBC Capital Markets, LLC and DriveWealth, LLC. Acorns Checking balances sit at one of two FDIC-insured partner banks, nbkc bank of Leawood, Kansas (FDIC certificate 35014) or Lincoln Savings Bank of Reinbeck, Iowa (certificate 14207), and may be placed at other insured institutions through a deposit network. Emergency Savings is provided by nbkc bank alone.

What is covered, and what is not

• SIPC covers up to $500,000 per customer in total, including a $250,000 limit for cash. Those are not two separate allowances. SIPC applies if the broker-dealer fails and customer assets are missing;
• SIPC explicitly does not protect against a decline in the value of your securities, and does not cover bad investment advice or unsuitable recommendations;
• FDIC insurance covers deposits up to $250,000 per depositor, per insured bank, for each account ownership category. It applies to the Checking and Emergency Savings balances, not to anything invested;
• Acorns’ own disclosure states that investment products are not FDIC insured, not bank guaranteed, and may lose value.

Regulatory history

Acorns Securities has two disciplinary events on its FINRA record, both resolved by consent:

• 11 July 2017: censure and a $175,000 fine for failing to keep electronic broker-dealer records in non-erasable, non-rewritable format;
• 2 September 2022: censure and a $200,000 fine after customer account statements inaccurately showed a negative quantity of exchange-traded fund shares.

That is $375,000 in total, and nothing further appears on the record through September 2026. No SEC enforcement action against any Acorns entity appears in the SEC’s administrative proceedings record, and none appears in the Consumer Financial Protection Bureau’s enforcement database either.

Other Acorns stats

Based on Acorns’ 2021 SPAC investor presentation, still the most detailed user-level demographic disclosure Acorns has made public, the company reported that:

• 50% of its user base consisted of parents;
• Gender distribution was 56% male, 43% female, and 1% non-binary;
• 60% of users were first-time investors;
• Average user age was 34;
• Median household income was $50,000 to $75,000, with 35% of users in the $50,000 to $100,000 band and 13% below $25,000.

The slide’s own footnote matters if you quote these: the age and location data are from investment accounts as of 31 March 2021, while the household income, gender and first-time-investor splits come from Acorns’ own customer research conducted in September 2020. Acorns has published nothing comparable in the five years since.
More recent context is available from Acorns’ own consumer research. According to the 2026 Acorns Financial Wellness Report, conducted by Censuswide across 1,875 US consumers aged 18 to 65 in April 2026:

• 45% of Americans have experienced anxiety due to financial pressure;
• Nearly 1 in 3 Americans has never opened an investment account;
• Americans, on average, start investing at age 30;
• 54% believe holding cash is “safer” than investing, while 52% also say inflation is eroding their purchasing power;
• Gender gap in participation: 36% of women have never invested (vs 27% of men), and women typically start investing at age 31 (vs 28 for men).

Acquisitions

Acorns called Zeta its fifth acquisition in a little over two years. The five brands arrived through four transactions, because Pixpay came with GoHenry:

• 3 April 2023: GoHenry, the UK kids’ debit card and money app, “and its European arm Pixpay”. Both continue under their own brands;
• 2024: Chronifi, a money management company. Acorns has never issued a release for this one and gives only the year;
• 15 May 2025: EarlyBird, a family wealth and digital memory platform for children, bought as an asset acquisition;
• 24 June 2025: Zeta, a joint-finance app for couples and families. Terms were not disclosed, and Zeta’s cofounders joined Acorns.

Acorns has announced no acquisition since Zeta. The through-line across all four deals is family finance, which is also what Money Manager, Acorns Early and the Early debit card are built around.

Patents

The claim that Acorns holds “over 27 patents” does not hold up. Searching the assignee field in the United States Patent and Trademark Office (USPTO) Patent Public Search returns 23 granted US patents across the two spellings Acorns has used, 19 under “Acorns Grow Incorporated” and 4 under “Acorns Grow Inc.”. Of those, 13 are design patents covering app screen layouts rather than inventions, and 10 are utility patents, running from 2016 to April 2026. A pending application is not a granted patent, and counts that sweep in similarly named assignees will run higher still.

What happened to Acorns Australia

Acorns launched in Australia in February 2016 as a joint venture. In January 2018 the joint venture ended and Acorns US became a minority shareholder. In April 2018 the business dropped the Acorns brand and became Raiz, and on 19 April 2018 it acquired Acorns’ remaining 9.63% holding for an effective price of A$4,692,834, satisfied in full by issuing 5,186,309 shares rather than in cash. It then listed on the Australian Securities Exchange as RZI. Raiz holds a perpetual licence to the platform technology, though its recent ASX filings no longer mention Acorns at all.

Raiz is therefore a separate company, not an Acorns subsidiary, and its figures should never be added to Acorns’. For reference, its FY26 results, lodged on 27 August 2026, reported 351,362 active customers and A$2.32 billion in funds under management as at 30 June 2026, up 6.7% and 27.5% respectively.

The market Acorns operates in

Two findings from the FINRA Investor Education Foundation’s National Financial Capability Study investor survey, published in November 2025 and fielded across 2,861 investors in 2024, frame the opportunity and the headwind at the same time:

• 80% of investors under 35 use mobile apps to trade, against 19% of those over 55. The channel Acorns bet on has won outright among younger investors;
• but only 8% of investors had started investing within the previous two years, down from 21% in the equivalent 2021 study. The wave of first-time investors that carried Acorns through 2020 and 2021 has receded sharply.

That combination is the commercial backdrop to the price rises of 2024 and 2026.

Conclusion

Acorns is one of the most recognisable consumer fintech brands in the United States, and its growth is real: $8.21 billion of assets under management at the end of 2023, $10.38 billion at the end of 2024 and $13.39 billion at the end of 2025, a two-year compound growth rate of 27.7%, which comfortably places it among the largest robo-advisors by AUM.

Several of the numbers attached to that growth do not survive a check against the filings. Acorns does not manage $33 billion. That is the cumulative amount customers have paid in since 2014. The 16 million figure is not a user count but everyone who has ever been a customer, and Acorns publishes no active figure at all. It is not preparing an IPO, having never filed an S-1, and the “$2.2 billion listing” stories are 2021 coverage of a SPAC cancelled in January 2022. Its 2025 revenue is not $400 million to $450 million, because Acorns has published nothing about revenue since 2021.

What actually changed in 2026 is the pricing. Bronze and Silver rose by a third on 17 August, and a Bronze subscriber now needs roughly $19,200 invested before the flat $4 fee beats a standard 0.25% fee, up from $14,400. For an app built around investing spare change, that threshold is the number that matters most, and it moved against the smallest accounts. Set against that, Acorns asks for no minimum at all, keeps a $1 hardship tier, and wraps retirement matching, children’s accounts and family tools around the investing account, which is where the higher tiers earn their keep. The next real disclosure will only come if Acorns files to go public, and as of September 2026 there is no sign that it intends to.

Other FAQs