The GoHenry Group, which markets Pixpay payment cards for children and teenagers in France and Spain, as well as GoHenry cards in the United Kingdom and the United States, raised $55 million from its historical investors.
Edison Partners and Revaia, as well as the Italian leader in digital payment solutions, Nexi, to accelerate its global expansion and actively contribute to the financial education of the younger generation.
Having more than doubled its revenue during the pandemic to $42 million in 2021, this round follows the recent combination of GoHenry and Pixpay, the leading teen bank in France and Spain. . The funds raised will be used to develop the global presence of the Pixpay and GoHenry brands, including the launch of Pixpay in Italy in the course of 2022.
“In current market conditions, having attracted investment from a leading company like Nexi is a testament to the strength of the business we have built at GoHenry since its launch 10 years ago. As digital payments become the norm, more and more families are looking for solutions to help their children and teens interact with money and understand how to manage it in a cash-disappearing world. We are thrilled to welcome Nexi to our Board of Directors and strengthen our relationship with Edison and Revaia through this fundraiser, as we collectively continue to transform financial education for children and teens around the world. entire. », comment Alex Zivoder, CEO of GoHenry Group. Listed on the Milan Stock Exchange, Nexi merged with Danish paytech Nets last year, expanding into the Nordics and Germany, and becoming Europe’s largest payments processor with a presence in more than 25 country. This fundraising marks Nexi’s first investment in the GoHenry Group, whose mission is to drive the transition to a cashless Europe by making every payment digital. In addition to the capital contribution, Nexi will provide services to the GoHenry Group. Edoardo Giorgetti, Head of YAP, Innovation Lab at Nexi, will also join the GoHenry Group Board of Directors.
“We are very happy to enter into this partnership which allows us to expand beyond Italy to educate the consumers of tomorrow. We are proud to support the European expansion of the GoHenry Group, this also reflects our ambition to provide solutions to European fintechs as part of the development of integrated payments and pay-as-a-service solutions”, says Edoardo Giorgetti, head of YAP at Nexi Group.
“When we first invested in GoHenry in 2020, we knew the company could have an impact around the world by making financial education accessible and fun for the younger generation and their families,” says Chris Sugden, Managing Partner, Edison Partners. “Our initial investment has helped GoHenry grow in the UK and expand into the US. We are happy today to be able to contribute to the growth of GoHenry in continental Europe and thus participate in the financial education of the young generation with a practical and modern tool. »
Elina Berrebi, founding partner of Revaia, adds: “We are very proud to support GoHenry’s efforts to expand financial education for all children in Europe and the United States. This new funding and strategic partnership is an important step in its journey to becoming a leading global player in family finance and will further develop its European footprint. »
MBG Capital advised the GoHenry Group.
About GoHenry Group:
GoHenry Group refers to UK-based GoHenry Limited and its subsidiaries. These subsidiaries include BFF Financial Services (“Pixpay”) based in France, GoHenry, Inc and its subsidiaries based in the United States, GoHenry Financial Technology, Inc based in Canada, GoHenry Family Finance Limited based in the United Kingdom.
About GoHenry:
A pioneer in financial education for 6-18 year olds, GoHenry is a financial education app and prepaid debit card, designed to teach kids and teens how to manage their money smartly from an early age. Launched in 2012, GoHenry helps young people learn about money by teaching them essential age-appropriate money management skills that they can practice in a safe environment, all under the parental control. The Financial Education lessons (“Money Missions”) in the GoHenry app reinforce this learning in real life with an interactive, rewarding and fun way for children and teens to learn essential financial skills for life. After creating a new financial education category when it launched a decade ago, GoHenry now has over two million members in the UK and US and more recently in France and Spain. , thanks to the acquisition of the French FinTech Pixpay.
For more information, visit GoHenry.com.
In the United States, the GoHenry Card is issued by Community Federal Savings Bank, Member FDIC, under license from Mastercard International. In the UK, the GoHenry card is issued by IDT Financial Services Limited pursuant to a license from Visa Europe. IDT Financial Services Limited is a regulated bank, authorized by the Gibraltar Financial Services Commission. Registered Office: 57-63 Line Wall Road, Gibraltar. Registration number 95716. Our ISA Junior investment service is provided by GoHenry Family Finance Limited which is an Appointed Representative of Resolution Compliance Limited which is authorized and regulated by the Financial Conduct Authority (FRN: 574048).
About Pixpay:
Founded in France in 2019 by Benoit Grassin, Nicolas Klein and Caroline Ménager, Pixpay offers an alternative to banks for teenagers from 10 years old. Its ambition: to help children manage their money well in a cashless world. Pixpay offers teenagers a Mastercard payment card and a mobile app that allows them to pay, get paid, save money or get discounts on their favorite brands. It also has a mobile application for parents, offering them a secure, educational and practical solution to monitor and support their children on a daily basis.
For more information, visit www.pixpay.fr
About Nexi:Nexi is the European PayTech, present in attractive high-growth European markets and in technologically advanced countries. Listed on Euronext Milan, Nexi has the scale, geographic reach and capabilities to successfully transition to a cashless Europe. With its innovative product portfolio, e-commerce expertise and industry solutions, Nexi can provide flexible support to the digital economy and the entire payment ecosystem globally, through a wide range of different payment channels and methods. Nexi’s technology platform and world-class professional expertise enable the company to operate in three market segments: Merchant Services & Solutions, Cards & Digital Payments and Digital Banking & Corporate Solutions. Nexi constantly invests in technology and innovation, focusing on two fundamental principles: meeting, together with its partner banks, the needs of its customers and creating new business opportunities for them. Nexi is committed to supporting people and businesses of all sizes, transforming the way people pay and businesses accept payments, providing customers with the most innovative and trusted solutions to enable them to grow and better serve their customers. This is how Nexi drives progress for the benefit of all: by simplifying payments and enabling individuals and businesses to build closer relationships and grow together.
For more information, visit www.nexi.it – www.nexigroup.com
About Edison Partners:
Edison Partners is a leading venture capital firm that provides the financial and intellectual capital CEOs and their management teams need to grow and scale their businesses. The firm’s team brings over 275 years of combined investment, operating and industry experience to every investment, accessible through the Edison Edge value creation platform, which is tailored to strategy, stage of development and the operational needs of each company. Edison targets financial technology, healthcare information technology and high-growth SaaS and marketplace verticals outside of Silicon Valley with $10 million to $30 million in revenue. dollars. Investments also include buyouts, recapitalizations, spin-offs and secondary stock purchases. Edison’s active portfolio has created an aggregate market value exceeding $10 billion. Edison Partners manages $1.6 billion in assets.
For more information about Edison Partners, please visit edisonpartners.com and follow on LinkedIn.
About Revaia:
Located in the heart of Europe, with roots in two of the continent’s largest economic and financial hubs – Paris and Berlin – Revaia is pan-European at heart. We invest in growth-stage European companies with global ambitions and sustainable leadership. We are a complementary and diverse team, bringing together entrepreneurial and private equity experience. We create bridges between growth and listed markets. We are the partners of innovative entrepreneurs who strive to transform our society into a better world. We are very proud to support companies that act in this direction such as Algolia, Aircall, Coralogix, Frontify, Deepki, Platform.sh, GoHenry, Hublo, Planity and Welcome to the Jungle. Revaia.com