GoHenry, a UK-based pre-paid debit card provider and financial education app for teens, has acquired French FinTech PixPay.
GoHenry was built on the belief that good money skills come from empowering and trusting children to learn by doing. The company’s goal is to create an easy-to-use, convenient and educational product and tools for families to help their kids gain “money skills for life.”
PixPay has positioned itself a leader in teen banking in France and Spain, with 200,000 members having only launched in November 2021.
GoHenry and PixPay will continue to operate under their own brands with no change in leadership, headcount or headquarters.
The company said that its latest Youth Economy Report revealed that kids and teens recognise the importance of financial education, with 75% of UK kids saying that they think having good money management skills will help their future career.
The acquisition of PixPay marks the company’s entry in Europe as it looks to expand its member base.
Alex Zivoder, CEO at GoHenry, said, “Pixpay is the most developed player in Europe and we’re excited to combine our expertise in financial education to accelerate not only GoHenry’s growth but to accelerate the financial fitness of even more kids and teens globally.”
Copper, a US bank which set out to become teens’ bank account of choice, recently raised $29m in Series A funding.
Copyright © 2022 FinTech Global
