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J-Lo and A-Rod invest in Acorns

J-Lo and A-Rod invest in Acorns

Jennifer Lopez and former baseball player Alex Rodriguez are the latest celebrities to invest in savings and investing app Acorns, according to the Wall Street Journal.

Launched in 2014, Acorns now claims around five million accounts in the US for its app that automatically rounds up PayPal and debit and credit card purchases and puts the extra cents into stocks and bonds.

Lopez and Rodriguez join fellow celebs Ashton Kutcher and Kevin Durant as Acorns investors as the firm's CEO, Noah Kerner, a one-time DJ for J-Lo, looks to sprinkle a little stardust.

According to the WSJ, the celebrities could even design financial products that are tailored to their interests.

In January, Acorns raised $105 million in a Series E funding round joined by NBCUniversal that sees the entertainment giant's business news TV channel CNBC create financial literacy content for the startup.

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