Acorns CEO Noah Kerner started at the firm two months after its launch in 2014. Though it's still subject to approval by Pioneer shareholders, the transaction is expected to close in the second half of this year. Key BackgroundAcorns, which claims to be the largest subscription-based fintech startup in the nation, joins a growing wave of buzzy fintech firms announcing multi-billion-dollar takeovers and deals to go public this year. In addition, Investing app e-Toro landed a $10 billion SPAC deal in March. The first-ever SPAC ETF, which tracks companies both before and after deals, is down about 30% from a February high.

Source: Forbes May 27, 2021 15:56 UTC