GoHenry acquires French fintech Pixpay to drive European expansion
UK-based GoHenry, which offers prepaid debit cards and a financial education app for kids aged six to 18, has acquired French fintech start-up Pixpay for an undisclosed sum.
GoHenry says the new deal will enable it to expand its user base and boost its growth in Europe.
The company claims to have “more than doubled” its revenue during the pandemic to $42 million in 2021. It secured a $40 million funding round in December 2020.
Founded in France in 2019 by Benoit Grassin, Nicolas Klein and Caroline Ménager, Pixpay offers an alternative to banks for teens.
The firm provides a Mastercard payment card and a mobile app that allows users to pay, get paid, save money or get discounts on brands. It also has a mobile application for parents, offering them a secure, educational and practical solution to follow and accompany their children on a daily basis.
With claims of nearly 200,000 members, Pixpay plans to expand into Italy and Germany later this year. It has raised more than €11 million since April 2019.
GoHenry and Pixpay will continue to operate under their own brands with no change in leadership, headquarters or headcount.