IRVINE, Calif. & NEW YORK & LONDON--(BUSINESS WIRE)--Acorns, a saving and investing app for everyday people, today announced the strategic acquisition of GoHenry and its European arm Pixpay. Founded in 2012 in the U.K., GoHenry is a leader in money management and financial education for 6-18-year olds with a mission to make every kid smart with money. This acquisition marks an acceleration of Acorns’ roadmap by putting the responsible tools of money management and education in the hands of kids, teens and adults, globally.
In 2020, Acorns made its first foray into financial wellness for the whole family with the launch of Acorns Early, an investment product that lets parents, guardians, family and friends easily invest in a child's future—from delivery room to dorm room. Rooted in its mission to look after the financial best interests of the up-and-coming, it will now be possible for everyday people to responsibly manage their money through all of life’s stages with ease.
A group of friends and parents, including co-founders Louise Hill and Dean Brauer, founded GoHenry out of a personal need to teach their own kids how to manage money in the digital world. They recognized there was no simple solution that was easy for parents and practical for kids to learn about money - and so a new category in kids' finance was created. With key investors, Edison Partners, Revaia, Citi Ventures, Muse Capital and Nexi, GoHenry continues to expand across Europe and the U.S.
Since its inception, Acorns has helped everyday Americans save and invest over $16 billion, while GoHenry's young customers saved $130 million in the last five years alone. Together, Acorns and GoHenry have nearly 6 million subscribers.
“All kids around the world deserve access to responsible money management tools and financial education,” said Noah Kerner, CEO of Acorns. “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.”
Louise Hill, Co-Founder, GoHenry, added: "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. 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 U.K. and Europe (under Pixpay) with the added opportunities and global reach that this new strategic alignment will bring."
In the U.S., GoHenry will operate as GoHenry by Acorns. In the U.K. & Europe, GoHenry & PixPay will continue to operate under their own brands.
FT Partners served as the exclusive advisor to Acorns.
Acorns is how everyday consumers save & invest for the long term. To date, customers have invested over $16 billion with Acorns, much of it in spare change. By putting the tools of wealth-making in everyone's hands, Acorns is a leader in U.S. consumer finance, serving over 4.5 million everyday Americans. Customers get automated investing in diversified portfolios, a simple retirement product, a bank account that helps people spend less to invest more, bonus investments from brands while they shop, an easy way to invest in their kids, and a foundation of financial education. From acorns, mighty oaks do grow!
Investment advisory services offered by Acorns Advisers, LLC (“Acorns”), an SEC-registered investment advisor. Brokerage services are provided to clients of Acorns by Acorns Securities, LLC, an SEC-registered broker-dealer and member FINRA/SIPC. Acorns is not a bank. Banking services issued by Lincoln Savings Bank or nbkc, members FDIC. For more information, visit www.acorns.com.
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 over 10 years ago, GoHenry now has over two million members across the U.K. and U.S. and more recently France, Spain and Italy with its acquisition of French FinTech Pixpay.
For more information, visit GoHenry.com
In the U.S. the GoHenry card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.
In the U.K. 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.
GoHenry Family Finance Limited is an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048).