Investing app Acorns taps ‘choppy’ private markets at $1.9 billion valuation after scrapping SPAC

Acorns, the fintech start-up that scrapped plans to go public in January, has raised $300 million from private investors, CNBC has learned.

The savings and investing app is now valued at $1.9 billion after the transaction, more than double its last private round valuation, according to Acorns CEO Noah Kerner. The Series F round was led by private equity firm TPG and included BlackRock, Bain Capital Ventures, Galaxy Digital, and the investment firm co-founded by Brooklyn Nets star Kevin Durant.

The move shows that ample funding is still available for late-stage start-ups with good prospects. Private investors have grown more discerning after a…