LONDON (Thursday 13 October 2022): GoHenry, the prepaid debit card and financial education app for kids and teens, has raised $55m in its latest growth capital round with investment from existing investors, Edison Partners and Revaia, alongside new capital from leading Italian paytech Nexi.

Having more than doubled its revenue during the pandemic to $42M in 2021, the funding round follows GoHenry Group’s recent acquisition of Pixpay, the leader in teen banking in France and Spain, which marked the fintech pioneer’s first steps into Europe. The funds will be used to grow GoHenry Group’s global presence, with plans for Pixpay to launch in Italy later this year. It will also fuel its product expansion, which has already seen GoHenry venture into the Junior ISA space in the UK and introduce in-app gamified money lessons called ‘Money Missions’ to further support the financial education of young people.

Alex Zivoder, CEO at GoHenry Group, comments: “Under the current market conditions, to have attracted investment from a leading PLC like Nexi is testament to the robust business we have built at GoHenry since we launched 10 years ago. As digital payments become the norm, more families are looking for solutions to help their kids and teens interact with and understand how to manage money in a cashless world. We’re delighted to welcome Nexi to our board and to have strengthened our relationship with Edison and Revaia with this raise as we collectively continue to transform financial education for kids and teens across the globe.”

Quoted on the Milan stock exchange, Nexi merged with Danish paytech Nets last year expanding into the Nordics and Germany, and consolidating into Europe’s largest payments processor with a presence in over 25 countries. This fundraise marks Nexi’s first investment in the GoHenry Group and leads on its mission to drive the transition to a cashless Europe by making every payment digital. The new partnership between Nexi and GoHenry will include a mix of capital and services. Edoardo Giorgetti, Head of YAP, Innovation Lab at Nexi will also join the GoHenry Group board of directors.

“We are very pleased to enter into this partnership which allows us to continue our journey beyond Italy to enable and educate the consumers of tomorrow by supporting the go-to-market efforts of GoHenry Group as it expands across Europe. It also reflects our ambition to empower European fintechs as a part of a broader market evolution towards embedded payments and pay-as-a-service propositions,” says Edoardo Giorgetti, Head of YAP at Nexi Group.

“When we first partnered with GoHenry in 2020, we knew the company was poised to make a global impact by making money approachable and fun for the younger generation and their families,” said Chris Sugden, Managing Partner, Edison Partners. “Our initial investment powered the business’ acceleration in the U.K. and expansion to the U.S. We are excited to fuel GoHenry’s rapid growth into continental Europe and to teach young people financial literacy with practical tools like how to manage a budget.”

Elina Berrebi, Founding Partner of Revaia, added: “We are very proud to support GoHenry’s efforts to develop financial literacy for all kids in Europe and the US. This new financing and strategic partnership is a significant milestone in its journey to become a leading global family finance player and will further develop its European footprint.”

MBG Capital advised the GoHenry Group.

–ENDS-

Notes to Editors

For more information please contact:

Ali Dagwell / Elaine Hynes

[email protected] / [email protected]

+44 (0)7392 113010 / +44 (0)7912 512100 

Alex Rowe / Georgia Metcalfe

[email protected]

+44 (0)7732 975895 / +44 (0)7788 166718 

About GoHenry Group:

GoHenry Group refers to GoHenry Limited based in the UK and its subsidiaries. These subsidiaries include BFF Financial Services (“PixPay”) based in France, GoHenry, Inc and its subsidiaries based in the US, GoHenry Financial Technology, Inc based in Canada, GoHenry Family Finance Limited based in the UK.

About GoHenry: 

A pioneer in financial literacy for 6-18-year olds, GoHenry is a financial education app and prepaid debit card with in-app, gamified money lessons designed to teach kids and teens how to be smart with money from a young age. 

Launched in 2012, GoHenry helps young people learn about money by empowering them with essential money management skills tailored to their age that they can put into practice in a safe environment – all with parental oversight. GoHenry’s in-app financial education lessons, Money Missions, enhance this real-life learning with an interactive, rewarding and fun way for kids and teens to build essential money skills for life. 

Having created a new category in financial education when it launched 10 years ago, GoHenry now has over two million members across the UK and US and more recently France and Spain with its acquisition of French FinTech Pixpay.

For more information, visit GoHenry.com

In the US the GoHenry card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. In the UK the GoHenry card is issued by IDT Financial Services Limited pursuant to a license from Visa Europe. IDT Financial Services Limited is a regulated bank, licensed by the Financial Services Commission, Gibraltar. Registered office: 57-63 Line Wall Road, Gibraltar. Registered No. 95716. Our Junior ISA investment service is provided by GoHenry Family Finance Limited which is an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048).

About Pixpay:

Founded in France in 2019 by Benoit Grassin, Nicolas Klein and Caroline Ménager, Pixpay offers an alternative to banks for teens as young as 10. Its ambition: helping kids be good with money in a cashless world. 

Pixpay offers to teens a Mastercard payment card and a mobile app that allows them to pay, get paid, save money or even get discounts on their favourite brands. It also has a mobile application for parents, offering them a secure, educational and practical solution to follow and accompany their children on a daily basis. 

For more information, visit Pixpay.fr

About Nexi:

Nexi is the European PayTech, present in high-growth, attractive European markets and in technologically advanced countries. Listed at Euronext Milan, Nexi has the scale, geographical scope and capabilities to drive the transition to a cashless Europe. On account of its portfolio of innovative products, ecommerce expertise and industry-specific solutions, Nexi can provide flexible support for the digital economy and the entire payment ecosystem globally across a wide range of different payment channels and methods. Nexi’s technology platform and best-in-class professional expertise enable the company to operate in three market segments: Merchant Services & Solutions, Cards & Digital Payments and Digital Banking & Corporate Solutions. Nexi is constantly investing in technology and innovation, focusing on two fundamental principles: to meet, together with its partner banks, the needs of its clients and to create new business opportunities for them. Nexi is committed to supporting people and supporting businesses of all sizes, transforming the way people pay and businesses accept payments, offering clients the most innovative and reliable solutions to enable them to grow and to better serve their customers. This is how Nexi promotes progress for the benefit of all: simplifying payments and allowing individuals and businesses to build closer relationships and grow together. www.nexi.it – www.nexigroup.com

About Edison Partners: 

Edison Partners is a leading growth equity firm providing the financial and intellectual capital that CEOs and their executive teams need to grow and scale their companies. The firm’s team brings more than 275 years of combined investing, operating and sector experience to each investment, accessible via the Edison Edge value creation platform, which is tailored to each business’ strategy, stage and operating needs. Edison targets high-growth financial technology, healthcare IT and vertical SaaS and marketplace companies located outside Silicon Valley with $10 million to $30 million in revenue. Investments also include buyouts, recapitalizations, spinouts, and secondary stock purchases. Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners manages $1.6 billion in assets. For more information on Edison Partners, please visit edisonpartners.com and follow on LinkedIn.

About Revaia:

Based in the heart of Europe, with our roots in two of the continent’s financial and technology powerhouses – Paris and Berlin – Revaia is pan-European at heart. We invest in European growth-stage companies with global ambitions and sustainable leadership. We help them navigate the entire life cycle from the growth stage to IPO and beyond. We are a diverse team with entrepreneurial and private equity backgrounds. We build bridges between venture, growth and public markets. We are sparring partners for entrepreneurs who are working to transform our world for the better and are very proud to support companies that are doing just that, including Algolia, Aircall, Frontify, Deepki, Platform.sh, Epsor, GoHenry, Hublo, Planity, and Welcome to the Jungle.

Revaia.com 

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