GoHenry, a prepaid debit card and financial education app for kids and teens, has been acquired by American savings and investment app Acorns.
Financial terms of the all-stock deal, which includes its European arm Pixpay – acquired last year – were not disclosed.
GoHenry, founded in 2012 and which raised £50 million in its latest growth capital round last year, has around two million users in the UK and US.
The combined company will have nearly six million subscribers.
In the US, GoHenry will now operate as GoHenry by Acorns. In the UK and Europe, GoHenry and PixPay will continue to operate under their own brands.
Co-founder Louise Hill told our sister publication TechBlast in 2021 that her advice to entrepreneurs starting out is to create a personal support network (read more in the story below).
Acorns has an Early investment product which allows parents, guardians, family and friends to invest in a child’s future.
“GoHenry’s mission driven approach is perfectly aligned with Acorns, which we expect will help us accelerate our roadmap and deliver financial wellness to the whole family through all of life’s stages,” said Noah Kerner, CEO of Acorns.
In 2002 opted against a planned SPAC listing and instead raised $300 million from private investors at a $1.9 billion valuation.
What digital transformation can teach us about safety in schools