Acorns, the micro-investment platform that lets users save for their future, has today launched on Android.
Acorns simply connects to your credit and debit cards and invests the change from each purchase (rounding up to the next dollar) into an investment portfolio. You can choose between five different risk options, from aggressive to conservative, and watch how your investments are performing over time.
Users can make special deposits or withdrawals (beyond the automatic ones) at any time, or change their risk profile.
In this way, Acorns promises to help you save and make money without leaving you without access to your cash.
Since launching on iOS in August, the app has grown to 60k active users and has thusly decided to capture the Android market on the heels of that momentum. According to the release, a third of all new users are under 23 and a quarter of them make less than $25,000 annually.
Acorns makes money by charging a monthly $1 fee for every active investment month, as well as a management fee that ranges from .5 percent to .25 percent, depending on how much you’re investing.
The company has raised a total of $9 million in funding.
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You can download the Android version of Acorns here.
