GoHenry, a neobank that offers prepaid cards for children aged six to 18, was acquired by Acorns, a micro-investing platform, in an all-equity deal. Other financial terms of the deal were not disclosed. 

The acquisition strengthens Acorns’ focus on improving the financial wellness of kids and creates an opportunity for it to expand globally by leveraging GoHenry’s existing presence in the UK, France, Italy, and Spain. 

The combined entity has more than six million customers and over 700 employees, and it will now offer banking and investing products catering to every phase of life, from childhood to retirement.

Following the acquisition, GoHenry will operate as GoHenry by Acorns in the US, while it will continue to operate under the GoHenry and PixPay brands in the UK and Europe.

Furthermore, existing GoHenry investors such as Edison Partners, Revaia, Citi Ventures, Muse Capital, and Nexi will add to Acorn's cap table as they roll over their ownership in the deal.

Analyst QuickTake: In July 2022 , GoHenry acquired PixPay , a French neobank serving children above the age of 10 for an undisclosed amount. As of the same date, PixPay operated in France and Spain and had nearly 200,000 clients, whereas GoHenry operated in the UK and the US and reported generating USD 42 million in revenue while servicing over two million customers.