Gohenry crowdfunds £6.2m for US expansion
Gohenry, the firm helping kids learn about financial management, has raised £6.2 million via the equity crowdfunding platform Crowdcube.
The funds raised will be invested in products and marketing, as well as expanding gohenry’s operations in the US.
The firm’s crowdfunding campaign was launched in September with a target of £2 million, and has since received over 3,000 investors.
This is gohenry’s third campaign on Crowdcube, with the previous ones in 2016 and 2017, having raised over £10 million in total.
Alex Zivoder, CEO of gohenry, says: “Over 350,000 children are actively using gohenry, with more joining every day – managing their finances, learning about money, and getting to grips with the digital economy – these are very exciting times at gohenry!”
According to gohenry, young people don’t get exposure to the kind of skills that are fundamental in adult life – particularly financial skills.
Gohenry is a pocket money management tool that uses a pre-paid card and app to help teach “today’s digital generation” about money.
Parents can set up an account and use the app to set allowances automatically or related to tasks, as well as agree limits and locations where the card can be used. After that, children are able to choose how they spend and save themselves, and the app gives them a record of where their money is going.