gohenry raises $40m in growth capital led by Edison Partners to fuel international expansion.
The financing round includes participation from Gaia Capital Partners, Citi Ventures, and Muse Capital to support growth in the US and UK.
gohenry provides a money app and prepaid debit card with parental controls to help children and teenagers build financial management skills. The company has surpassed one million members and operates profitably in the UK and US markets.
London based family finance platform gohenry has secured $40m in growth financing led by US firm Edison Partners. Participation in the round also came from Gaia Capital Partners, Citi Ventures, and Muse Capital.
The fresh capital will be deployed to drive international expansion across the US, where the company established operations in 2018, and to support ongoing growth in the UK market. The raise follows a period of strong momentum for the business, which has doubled its user base annually over six years and achieved profitability earlier in the year.
The company combines financial technology and education to help young people navigate an increasingly cashless economy through debit cards and money management apps equipped with parental controls.
From the founder
"For too long, kids have been locked out of the digital economy and parents lacked the tools to help their children gain confidence with money and finances. gohenry was the first to respond to these needs in 2012 when we launched a groundbreaking financial education app and prepaid debit card that truly empowered children. In 2020, we’ve achieved three key milestones: becoming profitable which many B2C fintechs seek, raising $40m during Covid, and partnering with world leading funds. All three will help us fuel our US expansion."
Alex Zivoder
CEO at gohenry
Investor perspective
"gohenry is catering to millions of parents who are looking to raise smart, financially literate children but are currently underserved by existing solutions. We’re thrilled to partner with Alex and the gohenry management team on this next milestone in their growth journey and look forward to realising their ambitions to improve the financial fitness of kids across the globe."
Chris Sugden
Managing Partner, Edison Partners
Use of funds
- 01Expand into international markets
