Barclays acquires UK fintech GoHenry for £180m to boost youth banking
Barclays has agreed to acquire the UK arm of youth money management app GoHenry from its parent company Acorns for approximately £180 million, with the deal expected to close in late 2026 pending regulatory approvals. GoHenry, which serves over 2 million UK members since 2012 and 500,000 active users, offers prepaid debit cards and gamified financial literacy for children aged 6-18. The acquisition aims to strengthen Barclays’ position in youth and mass affluent banking, mirroring moves by rivals like Natwest and Lloyds. The deal will slightly lower Barclays’ CET1 ratio but is not expected to affect near-term financial guidance.
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Barclays to acquire kid-focused financial literacy app GoHenry
Barclays has agreed to acquire GoHenry, a UK-based financial literacy app for children aged 6 and up, from US fintech Acorns. The deal, expected to close in the fourth quarter of 2026, will see Barclays retain the GoHenry brand and standalone app. GoHenry offers prepaid debit cards with parental controls, savings goals, money lessons, and junior individual savings accounts. Acorns, which bought GoHenry in 2023, will retain the US business. The acquisition adds over 500,000 UK children to Barclays' customer base and is part of Barclays' strategy to deepen relationships with mass affluent households. The transaction is expected to reduce Barclays' common equity tier 1 ratio by roughly five basis points but will not affect 2026 or 2028 financial guidance. Barclays and Acorns are also exploring further collaboration opportunities.
Yahoo FinanceBarclays to Acquire UK Youth Money Management App GoHenry
Barclays has reached an agreement to acquire the UK business of GoHenry, a youth-focused money management app, from its parent company Acorns Grow. GoHenry, founded in 2012, provides prepaid debit cards for children and teens aged 6 to 18, with parental controls to guide financial decisions. The app has served over 2 million young people and employs around 200 staff. Financial terms were not disclosed. The acquisition is expected to close in the fourth quarter of 2026, pending regulatory approvals. Barclays stated the purchase supports its strategy to deepen customer relationships, particularly among mass affluent households. GoHenry will retain its brand and standalone app. The deal may lower Barclays' CET1 ratio by around 5 basis points but will not affect its 2026 or 2028 financial guidance. Acorns will continue to operate GoHenry's US business under the Acorns Early brand, as well as Pixpay in Europe. Barclays also noted it is exploring further collaboration opportunities with Acorns.
Yahoo FinanceBarclays agrees to buy youth money management app GoHenry
Barclays Bank UK has agreed to acquire GoHenry, a youth money management app, from Acorns Grow. The financial terms were not disclosed. GoHenry, launched in 2012, offers prepaid debit cards for children aged 6-18 with parental controls, employs around 200 people, and serves over 500,000 children in the UK. The deal is expected to close in Q4 2026, pending regulatory approval. Barclays stated the acquisition accelerates its strategy to deepen customer relationships, particularly with mass affluent households. The GoHenry brand and standalone app will be retained. The deal is expected to lower Barclays' CET1 ratio by about 5 basis points but will not affect its 2026 or 2028 financial guidance. Barclays is also considering further collaboration opportunities with Acorns.
Yahoo FinanceBarclays acquires UK fintech Gohenry for £180m to boost youth banking
Barclays has acquired the UK arm of money management app Gohenry from its parent company Acorns for approximately £180 million, according to City sources. The deal, expected to close in Q4 2024, aims to strengthen Barclays' position in youth banking and the mass affluent market. Gohenry UK has 500,000 active users and over 2 million all-time members since its 2012 launch, but reported a loss of £21.9 million in FY2024, narrowed from £48 million the prior year. The app uses gamified financial literacy lessons to teach children about inflation, interest, stocks, and cryptocurrency. The acquisition is expected to slightly reduce Barclays' CET1 ratio by about five basis points but support higher long-term returns beyond 2028. The move follows similar plays by rivals Natwest (Roostermoney acquisition in 2021) and Lloyds (wealth unit expansion), as banks compete for younger customers and fee-based revenue streams.
City AMBarclays acquires UK fintech Gohenry for £180m to boost youth banking
Barclays has acquired the UK arm of money management app Gohenry from its parent company Acorns for approximately £180 million, according to City sources. The deal, expected to close in Q4 2024, aims to strengthen Barclays' position in youth banking and the mass affluent market. Gohenry UK has 500,000 active users and over 2 million lifetime members since its 2012 launch, employing roughly 200 staff. The fintech reported a £21.9 million loss in FY2024, improved from a £48 million loss the prior year. The acquisition will slightly reduce Barclays' CET1 ratio by about five basis points. Barclays framed the purchase as part of a broader strategy to capture younger customers and wealth management clients, following its loss of the Evelyn Partners bidding war to Natwest. The move mirrors similar initiatives by Natwest (Roostermoney acquisition in 2021) and challenger banks Monzo and Revolut targeting younger demographics.
City AMBarclays buys UK fintech Gohenry to ‘turbocharge’ youth banking
Barclays has acquired the UK arm of fintech Gohenry from its parent company Acorns, in a deal expected to close in Q4 2024. The acquisition aims to strengthen Barclays' presence in youth banking and the mass affluent market. Gohenry, which has 500,000 active users and over 2 million all-time UK members since 2012, offers a gamified financial literacy app teaching children about inflation, interest, stocks, and cryptocurrency. The deal, for an undisclosed sum, will slightly reduce Barclays' CET1 ratio by about five basis points. Barclays framed the move as part of a broader industry trend, with rivals like Natwest and Lloyds also expanding in youth and wealth banking. Monzo and Revolut have similarly targeted younger users, while Natwest previously acquired Roostermoney in 2021.
City AM