Children’s Finance Startup UNest Makes Acquisition

Fintech startup UNest has acquired Kidfund, a savings app that helps parents save money for their children and teach good financial habits.Financial terms of the deal between UNest in North Hollywood and Kidfund in New York were not disclosed.Kidfund’s 30,000 users will have the option to convert over to a UNest account where they can continue to set aside savings for their children.Ksenia Yudina, chief executive of UNest, said she was excited to welcome Kidfund to the UNest family.“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,” Yudina said in a statement. “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.”“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,” added Alicia Silverstein, chief executive of Kidfund.Silverstein will join the UNest team as general manager of business-to-business channels.UNest is backed by Anthos Capital in Santa Monica, Draper Dragon in San Mateo and Artemis Fund in Houston.