News

GoHenry is ready to expand to Europe, raising $55 million

GoHenry, the UK-based provider of financial products for kids, has raised $55 million to fund expansion into new markets

GoHenry

GoHenry is ready to expand to Europe, raising $55 million. Source: pexels.com

As reported by Finextra, the new funding round attracted existing investors Edison Partners and Revaia, alongside Italian paytech Nexi. 

"Under the current market conditions, to have attracted investment from a leading PLC like Nexi is testament to the robust business we have built at GoHenry since we launched 10 years ago. As digital payments become the norm, more families are looking for solutions to help their kids and teens interact with and understand how to manage money in a cashless world."
Alex Zivoder, CEO, GoHenry

The pocket-money app provider GoHenry launched in the UK ten years ago. It has since expanded to the US, onboarding over two million users under 18. The firm tells a shift away from cash, inspired by the pandemic, promoted its business. In fact, enhanced digitalization of financial services helped GoHenry to double revenue to $42 million last year.

The fintech has been eyeing the European market for a while. This July, the firm acquired its French peer Pixpay. The M&A deal allows GoHenry to cater to kid customers in France and Spain. In addition, Pixpay will launch in Italy later this year.

SEE ALSO:

Lloyds Bank combined spending and savings in a new solution for kids

New app helps Aussie kids to learn about digital money

British kids set to receive a pocket money pay rise this year

Nina Bobro

1471 Posts 0 Comments

https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.