Acorns Grow Inc said on Wednesday it had raised $300 million from investors led by buyout firm TPG at a valuation of $2 billion, barely two months after terminating its proposed merger with a special purpose acquisition company.

The funding round also saw participation from BlackRock, Torch Capital and Bain Capital Ventures, among others.

Founded in 2012, the California-based fintech has more than 4.6 million paid subscribers, according to its website, who get access to automated investments and easy retirement accounts. The subscribers can also invest in stocks and bonds.

The funds will be used to bolster Acorns' growth, capture more users and also expand its portfolio to offer cryptocurrencies, the company said.

In January, Acorns scrapped plans to go public by merging with Pioneer Merger Corp in a $2.2 billion deal, citing market conditions.

The company was also considering a public listing through a traditional initial public offering at a later date, but did not provide any specific timing, a source familiar with the matter told Reuters at the time.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra Eluri)