Barclays eyes ‘all ages’ as buys junior money management app GoHenry
Barclays PLC on Friday said it will acquire the money management platform GoHenry Ltd, whose target market is children aged six to 18.
The London-based lender is buying Mighty Acquisition Sub Ltd, GoHenry’s parent company, from Acorns Grow Inc.
Irvine, California-based Acorns describes itself as a ‘financial wellness’ company.
Financial details of the transaction were not disclosed. It is expected to complete in the fourth quarter of 2026.
Barclays sees the purchase reducing its common equity tier-one ratio by about five basis points, based on the lender’s CET1 ratio at the end of March. Barclays has left its financial targets for 2026 and through to 2028 unchanged.
‘GoHenry’s digital platform allows UK children to learn to earn, save, spend and invest through a purpose-built app, with integrated tools for parents to monitor, guide and support their children‘s financial choices,’ Barclays noted.
‘The transaction brings together a renowned youth proposition and Barclays’ expertise in banking, enabling Barclays to serve customers of all ages.’
In parallel, Barclays and Acorns are considering other collaboration opportunities.
Barclays Chief Executive Vim Maru commented: ‘GoHenry has played a pioneering role in creating youth-focused financial services, building a market-leading brand for children thanks to its innovative all-in-one app. We’re excited to welcome GoHenry to Barclays, where it will turbocharge our offering for households and families. GoHenry supports our vision to offer a deep and seamless banking experience to customers through all of life’s big moments, whether opening a very first account, saving for retirement, and everything in between.’
Barclays shares rose 4.9% to 471.27 pence on Friday morning in London, and are up 45% over the past year.
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