GoHenry, the UK-based provider of financial products for kids, has raised $55 million to fund expansion into new markets
As reported by Finextra, the new funding round attracted existing investors Edison Partners and Revaia, alongside Italian paytech Nexi.
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.