Barclays agrees to buy youth money management app GoHenry

Barclays has sealed a woody to get the UK concern of GoHenry, a wealth absorption app for youth, from Acorns Grow.

Financial presumption of the transaction were not disclosed.

GoHenry offers prepaid debit cards to kids and teens aged betwixt six and 18 years, with integrated parental tools to usher their decisions.

Since its inception successful 2012, GoHenry has served implicit 2 cardinal young people. The institution employs astir 200 people.

Acorns CEO Noah Kerner said: "Acquiring GoHenry successful 2023 accelerated that ambitious vision, establishing Acorns Early arsenic a US person successful the kids abstraction with implicit 1.4 cardinal customers. As we treble down connected increasing the starring fiscal wellness app for American families, selling the GoHenry UK concern to Barclays allows GoHenry to service galore much UK kids and further its important mission."

The woody is owed to beryllium finalised successful the 4th fourth of 2026, contingent connected regulatory clearance.

Barclays said the acquisition "accelerates" its strategy to "deepen lawsuit relationships, including with wide affluent households, done purpose-built capabilities".

The GoHenry marque and its standalone app volition beryllium retained.

The woody is anticipated to little Barclays' CET1 ratio by astir 5bps and volition not impact its fiscal guidance oregon targets for 2026 oregon 2028.

Acorns volition support the GoHenry's US business, which operates nether the marque Acorns Early, on with Pixpay successful Europe.

The slope is considering much opportunities for collaboration with Acorns.

Barclays UK CEO Vim Maru said: "GoHenry supports our imaginativeness to connection a heavy and seamless banking acquisition to customers done each of life's large moments, whether opening a precise archetypal account, redeeming for retirement, and everything successful between."

Meanwhile, successful April, Maru told The Times that Barclays volition widen its high-street beingness by opening caller branches, enlarging immoderate existing sites and reintroducing the "bank manager" occupation title.

The latest woody follows Barclays' concern successful CommonAI, a collaborative engineering platform, past week. CommonAI unifies startups, enterprises, engineers, and academics to collaboratively build, trial, and instrumentality AI solutions astatine scale.

"Barclays to bargain UK younker wealth absorption app GoHenry" was primitively created and published by Retail Banker International, a GlobalData owned brand.