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Acorns Acquires Frich to Scale Financial Education

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Acorns Acquires Frich to Scale Financial Education

Acorns has expanded its financial education community by acquiring Frich, the company said in a Wednesday (Oct. 14) press release.

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Frich is a community where young Americans learn about money from each other, while Acorns is a financial wellness company, according to the release.

The acquisition brings Frich’s community of 1.6 million people, and its creator network that produces financial education content, to Acorns. In addition, Frich Co-Founders Katrin Kaurov and Aleksandra Medina have joined Acorns as co-leads of education and community, per the release.

“Investing is intimidating,” Acorns CEO Noah Kerner said in the release. “Doing it with others can help people get past that. Katrin and Aleksandra helped a lot of people say ‘I don’t know’ out loud, and that’s a good place to start.”

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Frich enables young adults to learn how to manage money from each other through group chats, comment sections and creator videos. It also offers a peer benchmarking feature that lets members compare their financial habits, according to the release.

Kaurov said in the release that Frich spent five years helping people talk about money openly and that Acorns is a natural next step, “because it lets us pair that conversation with investing and saving.”

Medina said in the release that Frich built a culture in which money is “honest, relatable and social” and that it will continue to do so at Acorns.


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