GoHenry Acquires French Fintech Start-up Pixpay to Foray into Europe

GoHenry, the U.K.-based financial education app and pre-paid debit card provider for kids, has expanded into Europe for the first time with the acquisition of French startup Pixpay. Terms of the deal were not disclosed.

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Founded out of London back in 2012, GoHenry has emerged as one of the preeminent fintech companies for children, targeting six to 18-year-olds with a digital platform that allows parents to allocate and control funds, while their children learn how to budget and gain insights into their spending habits.

Pixpay was founded out of Paris less than three years ago, and is a similar proposition to GoHenry but with more of a focus on slightly older children, starting from 10 years of age. The company had expanded into Spain back in November, helping to drive its membership to nearly 200,000 across the two markets.

"As an established leader in teen banking in France and Spain and a trusted brand, the acquisition of Pixpay made perfect sense to help accelerate growth across Europe, improve our competitive advantage, and cement our global leadership position,"said GoHenry CEO Alex Zivoder.

GoHenry said it has no plans to integrate the two companies, with their respective brands, leaderships teams, and headquarters remaining as they are.

"It made sense to combine our expertise with that of GoHenry to boost our growth plans,"Pixpay CEO Benoit Grassin said."With shared values and ambitions, we believe that this combination with GoHenry will enable us to go faster and further than if we had operated on our own."

Source: TechCrunch