Acorns, a finance app that lets you invest your spare change to the stock market is said to launch in Australia. This free app aims to open up investing to young people and to those who are interested in investing their money and grow it into something bigger.
According to Colton Dillion, global company director of Acorns, the company chose Australia as its international starting point due to the country’s similarities with America. “We have similar investing and saving [habits] … and the readiness of the market for the Acorns product appeared to be about the same,” he explained to Mashable Australia.
The company began its beta testing phase of the app last December, claiming to have 26,000 who have signed up as of its launching day. Using Acorns, the user connects their banking details and the app will track their purchases and rounds up each transaction to its nearest dollar and investing the difference in a portfolio.
