Acorns acquires GoHenry
Acorns announced the acquisition of GoHenry and its European arm Pixpay. Founded in 2012 in the UK, GoHenry is a money management and financial education app for 6-18-year olds with a mission to make every kid smart with money.
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. 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. 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.” – Noah Kerner, CEO of Acorns.
“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.” – Louise Hill, Co-Founder, GoHenry.
In the US, GoHenry will operate as GoHenry by Acorns. In the UK & Europe, GoHenry & PixPay will continue to operate under their own brands.