GoHenry, the UK-based provider of a pre-paid debit card and financial education app for kids, has raised $55 million to fund its move into new markets.
Existing investors Edison Partners and Revaia joined the round, alongside new capital from Italian paytech Nexi.
GoHenry, which launched in the UK ten years ago and has since expanded to the US, claims more than two million users for its kids-focused fintech app. The firm says a pandemic-inspired shift away from cash helped it to double revenue to $42 million last year.
In July, the firm acquired peer Pixpay, giving it a foothold in France and Spain. Pixpay will launch in Italy later this year.
Alex Zivoder, CEO, GoHenry, says: "Under the current market conditions, to have attracted investment from a leading PLC like Nexi is testament to the robust business we have built at GoHenry since we launched 10 years ago.
"As digital payments become the norm, more families are looking for solutions to help their kids and teens interact with and understand how to manage money in a cashless world."