Children's Investing Mobile App UNest Acquires Littlefund

NORTH HOLLYWOOD, CA — Mobile app UNest, which aims to give parents a headstart on investing for their child's college education, announced the purchase of gifting platform Littlefund. According to a statement, the purchase will double UNest's user base to 60,000 users and add new features to the UNest experience.

Based in North Hollywood, UNest launched in February 2020 with a mission to simplify and demystify the college saving process. Founded by Ksenia Yudina, former Capital Group senior executive, the app includes financial minds with experience at Acorn, Marqeta and Union Bank among others.

The company offers 529 savings plans and plans to announce investment accounts for children in the near future. Recently, the finance app closed a $9 million fundraising campaign that included investments from Northwestern Mutual Fund Ventures and former NBA All-Star Baron Davis, who also serves as a brand advisor.

"We couldn't be more excited to join forces with Littlefund. Our teams share the same values and there is a lot of synergy in terms of vision and demographics. Both are applying a modern, technology-driven approach to making financial solutions more affordable, accessible, and user-friendly for a new generation of parents," said Yudina. "The acquisition will further strengthen the core elements of UNest's solution for families -- technology and advocacy. It will also provide grandparents, friends and other family members with a simple, integrated way to send gifts to a child's UNest account."

Littlefund founders Mimi Chan and Isaac Dresman will serve as UNest's Head of Experience and Head of Research and Development, respectively.