goHenry, arguably the first fintech-for-kids startup, has completed a £3.9m equity fundraising via Crowdcube – “the largest crowdfunded deal on the platform to date”.
Over 2,300 investors participated in the round, investing in exchange for just under 16% equity. The UK startup – founded by Alex Zivoder, and Louise Hill – aims to instruct kids on managing money with pre-paid debit cards and app.
“As our economies become increasingly cashless, and as purchasing moves online, children need to be able to manage their money in a digital age”, says goHenry co-founder Louise Hill. “The many parents who use goHenry feel it’s important that they have a tool that enables them to empower their children to learn good money habits early on – to earn responsibly, to develop good saving habits and to spend safely.”
Darren Westlake, co-founder and CEO of Crowdcube, enthused about the investment:
“GoHenry is the latest in a wave of innovative fintech (financial technology) firms that are disrupting parts of the financial services sector. There is no doubt that crowdfunding is no longer alternative, with more established and growth-stage businesses turning to us to raise larger sums, often as part of Series B fundraises.”