Monday
January 15
2018

Bono’s Fund Makes Its First Fintech Investment, Backing Acorns

Financial technology startups are grabbing a greater share of capital from investors. Now Bono is getting in on the action.

The Rise Fund, a private investment fund co-founded by the U2 lead singer, is making its first known bet on a fintech business by backing Acorns Grow Inc., the companies confirmed on Friday. Acorns offers an investing-and-savings app tailored to people with small amounts of disposable income.

Bono helped start the Rise Fund last year with private equity firm TPG, raising $2 billion to focus on commercial projects capable of having a social or environmental impact.

Photo courtesy of Ava Systems.

Source: Bloomberg Technology (link opens in a new window)

Categories
Inclusive Fintech, Investing
Tags
financial inclusion, financial services, financial technology, fintech, impact investing, investors, social impact, social innovation, startups