On a mission to help millions of kids be good with money, gohenry has worked hard to galvanise its community. The loveable fintech trailblazer has raised £10m from its community across two rounds of funding with Crowdcube. Gohenry truly is powered by its community.
Gohenry is proud to be founded by parents and funded by parents. Their shareholders represent the company's most active users and are as passionate about the company as they are.
“It’s incredibly striking that 99% of our shareholders’ children have downloaded our app versus a 60% average when compared to our other customers. Shareholders are also spending 50% more and refer twice as many people than an average customer. Our shareholders are our power-users. They’re highly engaged, loyal and enthusiastic promoters of gohenry.” Alex, CEO of gohenry
Alex continued: "We were able to harness the passion and belief of our community through our two raises on Crowdcube. There’s something really exciting about the crowdfunding process and the team at Crowdcube were on-hand every step of the way. Their expertise, support and guidance were second to none. One of the best parts of the experience is having customers that are also investors – they’re super engaged, give us loads of feedback and also love telling their friends about gohenry.”
Gohenry was grown by a small group of friends who wanted a simple, meaningful and common-sense solution for kids’ money management.
Their innovative app gives kids a safe space to learn and, occasionally, make mistakes: no debt, no overdrawn accounts, and with the option for parents to jump in and help out if needed.
Ultimately, they want every child to graduate from gohenry with confidence, independence and money sense. They want them to be fully prepared for the digital economy and the rise of a cashless society. And to boldly face adulthood’s later financial pressures, fearlessly navigating some of life’s trickiest waters: their money.
When gohenry raised £6m in late 2018, they became one of the first companies to take advantage of a change in EU regulation that sets limits to the amount of money that can be raised on Crowdcube. Previously, companies were permitted to raise up to €5m (£4.4m), but can now seek up to €8m (£7.1m).
Their campaign proved immensely popular with their community who believe in their mission to help make kids better with money. So much so, 3,125 people backed the company and its growth plans.
Gohenry's first raise in 2016 fuelled its growth in the UK, as well as further product development and initial international expansion. By the time they completed their second round in late 2018, over 550k parents and kids in the UK and US were using gohenry to manage their money.
They were as good as their word when they got their UK operation to breakeven in Q1 2018 and entered the US market in 2017. The money raised from its community in 2018 will primarily be used to accelerate US expansion.