Barclays has agreed a deal to acquire kids money app GoHenry from its parent company Acorns.
GoHenry helps 6-18-year-olds learn to earn, save, spend and invest money. The deal is subject to regulatory approval and other conditions and is expected to complete in Q4 2026.
Acorns will retain the US GoHenry business, which now operates under the Acorns Early brand, as well as Pixpay in Europe.
GoHenry pioneered a new category in financial education when it launched to the UK public in 2012. Since then, over two million kids have grown their money skills through the app.
In April 2023, GoHenry was acquired by US financial wellness brand, Acorns, to advance GoHenry’s mission globally. GoHenry will join Barclays, giving the financial education brand a platform to accelerate its mission in the UK and offer GoHenry members a pathway to continue their money journey when they turn 18.
“As a brand born and built in the UK, we’re excited about the opportunities joining Barclays will bring – not only for the business and our team, but for our members and the wider public too,” said Louise Hill (pictured), founder of GoHenry.
“As always, we’ll put the experience of our members first as we continue to upskill the youngest generation in essential money skills. GoHenry isn’t going anywhere. What changes is our ability to do more.”
In 2020, GoHenry introduced in-app, bite-sized money lessons, Money Missions, to complement the real-world learning provided through its app and card. In 2021, GoHenry branched out into family investing via its Junior Stocks and Shares ISA – a single, diversified fund managed by Vanguard designed to make it simple and accessible for UK families to begin investing in their child’s future.
As a mission-led business, GoHenry has also played a pivotal role in pushing for financial education lessons to be made compulsory in all schools in England from primary age, a landmark change set for implementation in September 2028.
Vim Maru, CEO, Barclays UK, commented: “GoHenry has played a pioneering role in creating youth-focused financial services, building a market-leading brand for children thanks to its innovative all-in-one app.
“We’re excited to welcome GoHenry to Barclays, where it will turbocharge our offering for households and families. GoHenry supports our vision to offer a deep and seamless banking experience to customers through all of life’s big moments, whether opening a very first account, saving for retirement, and everything in between.”
Noah Kerner, Acorns CEO, said: “At Acorns, we’re bringing financial wellness to the whole family. Acquiring GoHenry accelerated that ambitious vision, establishing Acorns Early as a US leader in the kids space with over 1.4 million customers.
“As we double down on growing the leading financial wellness app for American families, selling the GoHenry UK business to Barclays allows GoHenry to serve many more UK kids and further its important mission.”
J.P. Morgan served as exclusive financial advisor to Acorns.