Hey there and welcome back to our regular morning look at private companies, public markets and the gray space in between.
A few weeks back we dug into the boom that cost savings and investing apps and services were enjoying. Companies like Acorns, M1 Finance, Robinhood and others were seeing fast growth in their possessions under management (AUM) and downloads. New information out today underscores how well financing apps are faring in the new, chaotic COVID-19 era.
You can run an easy test on yourself in this case. Considering that, say, January of this year, have you paid basically attention to your banking and investing associated apps and, more broadly, your monetary life? Maybe you are attempting to put a bit more away? Or make certain your 401k isn’t bought something silly?
If so, you are far from alone. To information just how much more activity this piece of the startup world is delighting in, today we’re rethinking at the growth that this slice of the fintech world is undergoing. We’ll lean on some new data from a mobile app analytics service provider (AppAnnie) and a report from a brokerage-infra startup (DriveWealth) to get a clearer photo of where investing and savings apps are growing and simply how well they are performing.
Purchasing a slump
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.