goHenry – a digital banking solution that aims to makeÂ your kids smarter atÂ managing money than you are – Â raised over Â£2m in under 48 hours after launching on Crowdcube.
Founded by a group of parents, goHenry offers children and teens a pre-paid card and app withÂ parental controls. These tools are designed to help young people learn good money habitsÂ whilst giving parents peace of mind and an easy way to manage pocket money and allowances.
The company currently has aroundÂ 200,000 parents, relatives and children using the service. EachÂ month, parents are signing up over 10,000 children. The company has seen revenue growth of 470%Â over the last two fiscal years.
Since goHenry was designed and developed in collaboration with families, crowdfunding was aÂ natural choice and a way of allowing users to become part of the company and share in futureÂ success. Members enjoyed a 48-hour exclusive window to invest in goHenry over the weekend. OnÂ Monday April 25th, the round was extended to Crowdcube 250,000-strong community of investors.
â€œBeing owned by parents has been key to our success. We all use goHenry with our ownÂ families, which is why we know weâ€™re building a product that children and their parents love.Â Thatâ€™s why weâ€™re really keen to give other parents, grandparents, aunties and uncles anÂ opportunity to invest and be a part of goHenryâ€™s future too.â€ Louise Hill, co-founder and COO
Despite exceeding the funding target of Â£2m already, goHenry is still open to investment for aÂ remaining 19 days (as of the date of this post). The pitch page can be viewed here. Investments of this nature do carry risks toÂ your capital and you should always invest aware.
The funds raised will be used to develop goHenryâ€™s product, to continue its growth in the UK – aÂ market where approx 5 million children aged 8 to 18 receive pocket money – and to start its overseasÂ expansion. An estimated further 20m children in Europe receive pocket money: each one of themÂ will face a digital and cashless future. goHenry helps this generation to navigate this future safely.
â€œYou can see from the significant growth that we have achieved, that goHenry is solving aÂ real problem for families. As our economies become increasingly cashless, and as purchasingÂ moves online, children find themselves without a currency and a means to manage theirÂ money in a digital age. Parents also need the tools to help their children learn good financialÂ practices early on – to spend safely, to earn responsibly and to start good saving habits.â€Â Alex Zivoder, CEO of goHenry
The goHenry crowdfunding investment opportunity is currently open at:Â www.crowdcube.com/gohenry.