GoHenry partners with Seccl to power junior ISA

GoHenry has paired up with custodian and platform technology provider Seccl to power a junior individual savings account (ISA) on its app.

The children’s prepaid debit card company and financial app will now have an API-powered junior stocks and shares ISA for children aged six to 15 years old.

Parents will be able to set up an ISA for their children in “less than one minute” and can contribute a minimum of £1 through automatic monthly payments, make one-off payments and enable friends and family to contribute to it.

Seccl’s technology also allows parents using GoHenry the ability to transfer funds from other existing junior ISAs and child trust funds so that all their child’s finances can be managed in one place.

“We needed a partner we could rely on to ensure our unior ISA met the high standards our customers have come to expect,” GoHenry chief commercial officer Luke Carr said.

“Seccl went above and beyond to ensure the transition from our previous provider was as smooth as possible, which has been invaluable during a period of rapid growth and expansion for GoHenry.”

Two months ago, GoHenry secured a $55m funding round which it said was to accelerate its global expansion. 

The company now has more than two million customers globally, and with the junior ISA partnership will hope to expand further into what Seccl’s fintech growth lead Mary Agbesanwa described as a “largely untapped” market in junior investment products.

“The latest HMRC statistics show interest in these products is rapidly growing,” Agbesanwa said.

“GoHenry’s investments proposition is a great example of how firms can use Seccl’s technology to build hyper-customised investment journeys – in this case empowering parents and children to invest for the future.”