GoHenry, a fintech firm offering prepaid debit cards and a financial education app for kids and teens, has raised $55 million in a growth capital round.
Existing investors Edison Partners and Revaia took part in the round and Italian paytech Nexi joined in as a new investor.
With the fresh capital, GoHenry intends to fuel its global expansion, with plans to launch Pixpay (which it recently acquired) in Italy later this year. The funds will also be used towards adding new products, through the launch of Junior ISAs in the UK and introducing in-app gamified money lessons.
The fundraise and partnership with Nexi comes with the intention of driving the “transition to a cashless Europe by making every payment digital”. Edoardo Giorgetti, head of YAP, innovation lab at Nexi, will also join the GoHenry Group board of directors.
“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 ten years ago,” says Alex Zivoder, CEO at GoHenry Group.
“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.”
GoHenry was launched in 2012 in the UK as a financial literacy app for children aged six to 18. It claims to have more than two million members across the UK and US and recently in France and Spain through the acquisition of the aforementioned French fintech, Pixpay.
It last raised $40 million in a venture funding round in 2020 led by Edison Partners.
Image and article originally from www.fintechfutures.com. Read the original article here.