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Successfully funded
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gohenry empowers young people in a digital banking world. Its cards & app for the digital native generation help parents teach kids (ages 6-18) how to earn, save, spend & learn about money in an increasingly cashless world. Today 550k+ parents & kids in the UK & US use this safe digital solution.
- 550k+ active members (226k+ parents and 330k+ children)
- 13k active US child accounts to-date after April launch
- Ranked 8th in The Sunday Times Tech Track 100 2018
- Revenues have grown from £2.8m in 2016 to £6.1m in 2017 (115% growth)
Idea
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/e8559905d2adaa629e65c55b9b1be9ea.jpg "A financial tool for the digital native generation. Built by parents, with children in mind.")
A financial tool for the digital native generation. Built by parents, with children in mind.
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/17b50f5cacb43e9d5329f937b3eec548.jpg "8th fastest growing tech company in the UK according to The Sunday Times Tech Track 100 league table ranking the 100 private tech companies with the fastest-growing sales over their last 3 years.")
8th fastest growing tech company in the UK according to The Sunday Times Tech Track 100 league table ranking the 100 private tech companies with the fastest-growing sales over their last 3 years.
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/490382f09affec2300e6a6976450ee6f.jpg "An easy (and fun) way to pay pocket money")
An easy (and fun) way to pay pocket money
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/64f88e38538e64d6c15d865d977e66f6.jpg "Parents decide where the card can be used and get notifications every time their child spends")
Parents decide where the card can be used and get notifications every time their child spends
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/5c2758c5619d70b2d0ab800127a13af1.jpg "Parents set tasks so kids can learn to earn money")
Parents set tasks so kids can learn to earn money
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/ec6dfdc9e5ba2a477402d03d19f872bd.jpg "Kids set savings goals and watch them grow")
Kids set savings goals and watch them grow
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/c8090ca69cc1a1dae1e69a51041bbfcc.jpg "Kids choose their own personalised card")
Kids choose their own personalised card
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/337ff13cebde1ccd987c4c60d4a1b436.jpg "We’re introducing a new feature called Giving. We’ve teamed up with NSPCC to help children understand the value of giving.")
We’re introducing a new feature called Giving. We’ve teamed up with NSPCC to help children understand the value of giving.
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201809/b59a40d9d66b95e1132934e4c7d04f15.jpg)
gohenry was founded in the UK in 2011 by 3 parents with a vision to empower & teach children good money habits through real money management. Since then we’ve not changed direction: we want to help every kid be good with money. We introduce young people aged 6-18 to digital banking and provide them with a safe way to spend in an increasingly cashless world. Parents get peace of mind.
Our main revenue source is a small monthly membership fee we charge to parents for every active child account.
We have strong traction:
- We have 330k activated child accounts. This includes c.13k child accounts in the US since launching in April.
- Revenue: £2.8m in 2016 and £6.1m in 2017 (115% year on year growth, 2017 EBITDA of -£677k).
- We were ranked the 8th fastest growing company by revenue in the Sunday Times Tech Track 100 2018 league table.
Our goal is to have 15% of the UK & US addressable market. That would account for 6.6m child accounts, an estimated market value of £251m. We already have 5% market share in the UK.
We’ve kept our word to investors twice already:
- Got the UK to breakeven in Nov 2017 and Q1 2018 (2016 £4m fundraise)
- Entered the US market (2017 £2.4m fundraise)
We’re a business founded & funded by parents on a mission to help every kid be good with money – the power of the crowd has been key to our success. We’re excited to be back again to help accelerate our US growth.
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