3 years ago

GoHenry Secures $55 Million for European Expansion After Losses Surge

  • GoHenry, a neobank for children, has raised $55 million in Series B funding from Edison Partners, Revaia, and Nexi

  • The funding comes as GoHenry's losses ballooned 20-fold in 2021, due to investments in product development, hiring, and expansion

  • The company plans to use the new funding to continue its expansion into Europe, following the acquisition of French rival PixPay

  • GoHenry is aiming to capitalize on the growing trend of cashless payments, particularly among younger generations.

      • ProblemFinancial Services

      "Managing money for children in a cashless society is difficult for parents and children lack financial literacy."

      Solution

      "GoHenry is a neobank for children that provides financial education alongside banking services. This allows children to learn about money management in a safe and controlled environment, whilst also giving parents visibility and control over their children's spending."

      Covered on