Acorns, a micro-investing app, has announced the strategic acquisition of Vault, a Portland-based tech company that lets customers invest part of their paycheck into a retirement fund.
The Acorns acquisition was driven in part by their desire to open a Portland, Oregon office. The firm expects to hire more than a dozen engineers in the next 12 to 18 months to support its product development strategy.
Through the acquisition, Acorns plans to launch an IRA designed for the up-and-coming product, Acorns Later, which will be available in 2018.