Fintech GoHenry Introduces Money Missions, In-App Gamified Education, to Support Financial Literacy

GoHenry, a pioneer in kids’ debit cards, money management, and financial education, has introduced Money Missions, which aims to accelerate the firm’s ambitions to bridge the gap in early financial literacy for Gen Z and Gen Alpha “with a gamified educational experience integrated into the GoHenry app.”

Money Missions are described as being fun, interactive lessons created to “build confidence, literacy, and curiosity in 6-18-year-olds.”

As mentioned in a release shared with CI, Money Missions aims to “cover a full financial education curriculum including money basics, earning, saving, investing, responsible spending, credit, money safety, and more.”

Kids have the option of viewing animated videos, take quizzes, and “earn points and badges while gaining real-world experience with money.” The update also noted that the missions are “developed with teachers and financial experts and mapped to age-appropriate education guidelines in the US and UK.”

As explained in the announcement, these products are “tailored to the age of the child, as kids go through the missions, levels are unlocked and adjusted to their age, skills, and confidence.”

Alex Zivoder, CEO of GoHenry, stated:

“We’ve always had a simple mission which is to help kids be smart with money. With 60 million kids and teens in the US and UK alone that have not been adequately served with financial education, Money Missions is one of the ways we are bridging this gap with a hands-on app experience to turn financial education into a motivating, fun, and rewarding way for kids to build confidence with money.”

Zivoder added:

“It’s a really strong complement to our innovative debit card, banking, and payment functionality. With Money Missions, GoHenry will continue to be the place kids and teens learn the foundational blocks of personal finance and gain real-world money skills necessary for their future.”

Research from the University of Cambridge reveals that children form their attitudes and habits towards money “by age 7, and 87% of teens have trouble making everyday spending decisions.”

A GoHenry survey reveals that even among parents, “89% said they would have made better financial decisions if they received financial education before the age of 18.”

Dani, a parent who has been using Money Missions with her 11-year-old daughter as part of beta testing, stated:

“My daughter Ellie-Rose has already been using GoHenry for over a year and in that time she has learnt how to budget and save. She’s loved using the new Money Missions and particularly enjoys the way it’s like a game with the videos and animations. She wants to get the questions right so it makes her listen more and concentrate – she gets a great sense of achievement after completing each mission.”

Money Missions is the latest investment in GoHenry’s Fintech products and services for families, including Teen Account, Eco Cards, instant peer-to-peer payments, and Giftlinks (which “allows GoHenry members to receive money as gifts from parent-approved relatives and friends”).

Backed by Edison Partners, Revaia (formerly Gaia Capital Partners), Citi Ventures, and Muse Capital, GoHenry has secured $70 million from institutional and individual shareholders.

Established in 2012, GoHenry is a financial technology firm with a goal to “make every kid smart with money.”

The GoHenry [prepaid] debit card and financial learning app is “designed for kids ages 6 – 18.” Parent and child apps provide tools to “help kids learn about money— by earning, saving, spending responsibly, giving, and more, all with parental oversight.”

In-app Money Missions offer “a gamified, integrated financial education experience that offers a rewarding and fun way for kids to build financial literacy.”

GoHenry claims that it is behind a movement of more than 1.5 million members who believe that being good with money is “a vital life skill.”

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