Acorns acquires GoHenry, a financial learning app for kids

Popular saving and investing app Acorns announced on Monday that it has acquired GoHenry, a UK-based fintech company providing a debit card and financial education to 6 to 18 year olds.

GoHenry was founded in 2012 by Louise Hill and Dean Brauer with the goal of ‘’making kids smart with money’’. While its mobile app offers various features to improve their money management skills, it also allows parents to keep track of the purchases they make with their pre-paid debit cards.

Acorns said in a press release that GoHenry has helped its young customers save $130 million in the last five years, while it has helped Americans save and invest more than $16 billion since its launch in 2014. The duo currently has 6 million customers in total. 

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The California-based company added that the deal will accelerate its roadmap ‘’by putting the responsible tools of money management and education in the hands of kids, teens and adults, globally.’’

GoHenry will operate as GoHenry by Acorns in the United States following the acquisition. But in the United Kingdom, GoHenry and PixPay, a French fintech company which it acquired last July, will continue their operations under their own brands.

Noah Kerner, chief executive officer of Acorns, said: “All kids around the world deserve access to responsible money management tools and financial education. 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 and chief operating officer of GoHenry, commented: “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.“