LONDON (Monday 11 July 2022): GoHenry, the prepaid debit card and financial education app for kids aged 6-18, has acquired French FinTech Pixpay in a deal that will see the financial education pioneer expand into Europe for the first time.

Ten years after it launched in the UK creating a new category in financial services, this new deal will enable GoHenry to rapidly expand its two million plus UK and US member base and accelerate growth across Europe as the company seeks to deliver on its mission to make every kid smart with money.

Having more than doubled its revenue during the pandemic to $42M in 2021, the acquisition follows a successful $40 million fund raise in 2020 to accelerate its leadership position in the UK and expansion into the US. Investors include French entrepreneurial growth equity investment fund Revaia, US growth-equity fund Edison Partners, Citi Ventures, and Muse Capital.

In just two years, Pixpay has established itself as the leader in teen banking in France and Spain, with nearly 200,000 members. Its opening in Spain in November 2021, less than two years after its commercial launch in France, embodies its ambition to become a key player in Europe. Pixpay has plans to expand into Italy and Germany later this year. To support its launch, Pixpay has raised more than €11M since April 2019 from the investment fund Global Founders Capital and BPIFrance via its Digital Venture division. 

Alex Zivoder, CEO at GoHenry, comments: “Ten years ago we saw an opportunity to give young people access to the digital economy. Since then we’ve looked to transform financial education for kids, teens and their parents through our groundbreaking financial education app and debit card to help children across the world gain confidence with money and finances. 

“Pixpay is the most developed player in Europe and we’re excited to combine our expertise in financial education to accelerate not only GoHenry’s growth but to accelerate the financial fitness of even more kids and teens globally. This deal marks a significant chapter for the future of financial education.” 

Benoit Grassin, CEO at Pixpay, says: “We are delighted to be joining the GoHenry Group as we prepare to accelerate Pixpay’s expansion across Europe. GoHenry’s experience and heritage will only serve to strengthen the already strong proposition offered by Pixpay. We look forward to building a strong, long-term relationship with GoHenry and we are excited about what the future holds.”

GoHenry and Pixpay will continue to operate under their own brands with no change in leadership, headquarters or headcount. The acquisition will instead allow both companies to accelerate their growth by executing synergies in knowledge and resource that will free up funds to reinvest in the financial education of kids and teens.

As part of its commitment to financial education, GoHenry recently launched its first Junior ISA, introduced in-app gamified money lessons, ‘Money Missions’, and continued to champion the importance of financial literacy through its membership of The Centre for Financial Capability. Alongside accountancy firm Wilson Wright, the company also commissioned CBI Economics analysis in March this year calling on the UK Government to work with industry to prioritise financial education from a young age.

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: 

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. 

For more information, visit GoHenry.com

In the US the GoHenry card is issued by Community Federal Saving Bank, member FDIC, pursuant to licence 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.

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