Update: goHenry’s Latest Funding Round Surpasses £5.7 Million During the Final Days on Crowdcube

UK-based digital banking solution goHenry is set to close its latest equity crowdfunding campaign on Crowdcube with more than £5.7 million from over 3,000 investors. The latest funding round made its debut on the funding platform at the beginning of September and quickly secured its initial £2 million funding target.

As previously reported, goHenry was created by a group of parents that wished to help the next generation manage their money better. Its financial tool is a card and app for a digital generation of kids and teens, helping parents teach their children (ages 6-18) how to earn, save, spend and learn about money. Parents will decide where the card can be used, can agree limits with kids, allocate pocket money and allowances automatically or related to particular tasks, while children decide where, when and how much to spend or save.

For £2.99 a month, gohenry provides a safe environment where children and teenagers can learn about earning, saving and spending responsibly by having the freedom to do it themselves, but with parental oversight, guidance and the safety of set spending limits.”

goHenry reported that it currently has 330,000 activated child accounts, which includes 13,000 child accounts in the U.S. since launching in April. The company reported its revenue has increased significantly in the past two years, with £2.8 million in 2016 and £6.1 million in 2017, which is a 115% year on year growth and 2017 EBITDA of -£677,000. goHenry’s pre-valuation is £58,039,908.

Speaking about the success of its the funding round, the goHenry team revealed that they have raised more than £10 million on Crowdcube since 2016. The company noted that the only other companies that have raised that much on the funding portal were Crowdcube themselves and BrewDog.

Funds from the Crowdcube round will be used to continue growth and expansion.

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