UNest Acquires Kidfund, the Savings App Designed for Kids

 -- Transaction enables UNest to expand its reach with American families, and bolsters its mission to promote financial literacy and empower future generations --

UNest, the money app for your kids’ future, today announced its acquisition of Kidfund, a socially-powered savings app that helps parents save money for their kids, and teach good financial habits. Kidfund currently has 30,000 users, all of whom will have the option to convert to a UNest account.

The acquisition of Kidfund will further accelerate UNest’s growth and deepen the company’s goal to simplify and streamline how parents save and invest for their kids’ future. Kidfund has focused on helping credit unions and other organizations strengthen the financial literacy resources and services they offer to their members. The integration will deepen UNest’s involvement with credit unions and other financial institutions.

“We are excited to welcome Kidfund to the UNest family,” said Ksenia Yudina, CFA, Founder & CEO of UNest. “We both place an emphasis on education, financial literacy, and saving, and we share a common goal of leveling the playing field for the next generation. The integration will provide young parents and families with a broad suite of financial resources to make it easier than ever before to save and invest in their kids’ future.”

“We’ve always said there’s power in numbers and that’s especially true as we join forces with UNest,'' said Alison Silverstein, CEO of Kidfund. “Partnering with UNest means we can deliver on our promise to provide financial knowledge to our customers along with the best savings tools and user experience possible.”

“Today marks a new and exciting chapter for Kidfund,” said Kidfund Founder & Chairwoman, Laura Bailyn. “It’s gratifying to join forces with such a like-minded and innovative company as we continue to support parents in their journey to fund opportunities throughout their kids’ lives.”

Following the acquisition, Kidfund CEO, Alison Silverstein will join the UNest team as General Manager, leading UNest’s B2B channels.

About UNest

UNest is democratizing access to smart financial solutions for all families. Since launching its app and investment account in February 2020, UNest is one of the fastest-growing fintechs, helping thousands of families give their children a financial head start and road map. Opening a UNest Investment Account for Kids requires no paperwork, and takes just five minutes to set up through its award-winning app. The North Hollywood company is backed by leading investors including Anthos Capital, Draper Dragon, The Artemis Fund, Northwestern Mutual Future Ventures, NBA All Star Baron Davis, and Band of Angels. UNest is an SEC-registered investment advisor. For more information, please visit: www.unest.co.

About Kidfund

Kidfund is a socially-powered savings app that helps parents save more money for their kids and teach good savings habits. Families can also choose to donate a percentage of incoming gifts to kids in need. The company partners with USALLIANCE Financial to offer favorable rates, and with the 1:1 Fund to distribute charitable donations. Kidfund believes that empowering kids with financial skills and building assets for them is the key to creating economic opportunity, mobility and security for the next generation. It is a female-founded startup based in New York City.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005331/en/