Founded by parents to help young people be better at managing their money, goHenry has created the first fully digital solution designed for children and teenagers aged 8-18. Since their last raise, they have grown to over 200,000 activated child accounts and now plan to expand to the USA.
Founded by parents to help make the next generation of young people better at managing their money than the last. goHenry created the first fully digital family banking solution designed especially for children and teenagers aged 8-18, offering a pre-paid Visa debit card and app with unique parental controls. These tools help children learn to earn, save and spend responsibly, whilst giving parents peace of mind and an easy way to pay pocket money.
Since raising investment through Crowdcube last year, we have grown to more than 200,000 activated child accounts. We are continuing to grow in the UK, and in just the 3 months to August, we saw nearly £14m spent on goHenry cards with £1m saved.
We are excited to tell you that we will launch our first international market – the US – at the end of next month. We had initially planned to launch in continental Europe, and while this option remains a very attractive one for us, further investigation revealed that the US was not as technically challenging as we had feared.
We are therefore raising £2m investment to support this expansion, to refine our offering, and to re-focus on delivering a service that is uniquely tailored to kids of all ages (we deliver the same product experience whether the user is 6 or 18 - there’s a big opportunity to better mirror the stage of life each of our users is at).