- U.K.-based GoHenry has acquired France-based Pixpay for an undisclosed sum.
- The deal will help GoHenry expand further into Europe.
- GoHenry and Pixpay will operate under their own brands with no change in staffing or headquarters.
The move will help U.K.-based GoHenry expand further into Europe, taking advantage of Pixpay’s teen mobile banking operations in France, Spain, and eventually Germany and Italy.
“Pixpay is the most developed player in Europe,” said GoHenry CEO Alex Zivoder, “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.”
Founded in 2019, Pixpay’s mobile banking app targets a slightly older user base then GoHenry. Pixpay is aimed at pre-teens and teenagers, while GoHenry caters to kids as young as six years old. Both seek to not only help kids spend and save money, but also to teach them responsible money habits at an early age. With almost 200,000 users, Pixpay has raised €11.1 million. Benoit Grassin is co-founder and CEO.
“We are delighted to be joining the GoHenry Group as we prepare to accelerate Pixpay’s expansion across Europe,” said Grassin. “GoHenry’s experience and heritage will only serve to strengthen the already strong proposition offered by Pixpay.”
The acquisition will not impact current operations at either company. Both GoHenry and Pixpay will function under their own brands with no change in staffing or headquarters. The two plan to work together to improve their products and “further transform financial education across the globe.”
GoHenry launched in 2012 and has since raised $66.2 million. The company expanded into the U.S. in 2019 and now counts more than two million members across the U.S. and the U.K.
“So as we expand into Europe, we’re excited to empower even more young people with the money management skills they need to thrive in today’s digital economy,” the company said in its announcement.