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Acorns acquires GoHenry
The prepaid debit card and financial education app for young people will now operate as GoHenry by Acorns in the US.
US-based savings and investing app Acorns has acquired GoHenry and its European arm Pixpay.
The London-based fintech on a mission to make every child and teen smart with money was founded by Louise Hill and Dean Brauer in 2012.
The prepaid debit card and financial education app focuses on money management and financial education for 6-18-year-olds across the UK, as well as in the US and Europe.
Acorns first entered the financial wellness space in 2020 when it launched Acorns Early, an investment product allowing family and friends to invest in a child’s future, and with the integration of GoHenry will now expand this to helping children and young people learn how to responsibly manage their money.
“All kids around the world deserve access to responsible money management tools and financial education,” Acorns CEO Noah Kerner said.
“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.”
With a combined nearly six million subscribers, Acorns’ customers have saved and invested more than $16bn while GoHenry’s have saved $130m in just the last five years.
GoHenry was born out of the founders’ personal need to educate their own children on how to manage their money.
“Since we started on our mission to make every kid smart with money ten years ago, we have helped millions of young people do exactly that and this new relationship with Acorns will enable us to reach many millions more,” COO Hill said.
“Never has there been a greater need for easy-to-use products that simplify savings and encourage everyone from kids to adults to build strong money habits.
“It's business as usual for our team and customers in the UK and Europe (under Pixpay) with the added opportunities and global reach that this new strategic alignment will bring.”
In the US, GoHenry will now operate as GoHenry by Acorns, while GoHenry and PixPay will continue under their own brands in the UK and Europe respectively.
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