Gohenry completes £6.2m raise on Crowdcube

Nov 30, 2018 · telegraph.co.uk

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UK fintech startup Gohenry has raised £6.2m to invest in a tool designed to teach children how to manage their pocket money.

Gohenry’s raise, which was launched in September, has exceeded its target of £2m after attracting more than 3,000 backers. Since 2016, it has attracted funds of more than £10m and expects revenue growth for 2018 to hit £8.1m.

The company sourced the cash on crowdfunding platform Crowdcube, and plans to use part of the money to expand its operations in the US, where there are currently 15,000 active children accounts.

Gohenry, which was founded in 2012, allows users to engage with a pocket money management tool in the form of a prepaid card.

Parents of children aged 6-18 can create an account on their behalf and set allowances which limit the amount of money that can be used. They can also set controls on where the card can be spent too.

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