By <a style="color: #4bbb87;" href="https://www.gohenry.com/uk/">gohenry</a>

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<ul style="font-weight: 400;">
 	<li>Bonanza for kids during pandemic with a 20% rise in pocket money earnings </li>
 	<li>Almost 70% of children more worried about money since beginning of pandemic as savings increased by 77% during lockdown </li>
 	<li>Kids show kindness in a crisis with charity donations rising 59% on pre-pandemic figures </li>
</ul>
Wednesday 28 April 2021:  <a style="color: #4bbb87;" href="http://www.gohenry.com/" data-saferedirecturl="https://www.google.com/url?q=http://www.gohenry.com/&amp;source=gmail&amp;ust=1619687422308000&amp;usg=AFQjCNHYwA-yw4pSeeNqcTUNRwohcyE6MA">gohenry</a>, the prepaid debit card and financial education app for 6-18-year-olds, has today released its 2020 Youth Economy Report, revealing how the COVID-19 pandemic has changed kids’ attitudes to money. The findings show canny kids increased savings by 77% over lockdown one and found new ways to make money boosting their earnings by 20% over the year.
The insights into children and teenagers’ earning, saving, spending and giving habits – gathered from 400,000 UK children* – indicate that the events of 2020 are likely to have provoked more positive financial behaviours and attitudes to money, which will continue through 2021 and beyond.
Louise Hill, COO and Co-founder of gohenry says: “The events of 2020 brought a lot of financial uncertainty to families across the UK and the nation’s kids responded by supporting their parents at home and being careful with their own spending and saving.
“After a challenging year, it’s heartening to see that the lasting legacy of COVID-19 could be an increased focus on social responsibility and social good, with children as young as six earning more, saving more and even giving more during the crisis. Overall, 6-18-year-olds contributed a staggering £95.7 million to the UK economy in 2020 and, as that number grows, encouraging good money skills for life has never been so important.”
No furlough for kids
At a time when many adults’ incomes were reduced by 20% due to furlough, young people managed to increase their earnings by 20% between the first and last quarter of 2020 as parents outsourced household chores to their kids.
Not only were young people rewarded for helping out around the house, but they enjoyed a 172% rise in earnings for taking exercise during lockdown one, as parents paid an average of £1.34 to encourage them to get moving.  Savvy school kids managed to give their savings an additional boost by focusing on the most lucrative tasks such as babysitting (£6.01), washing the car (£3.10) and gardening (£1.98).
Savvy savers
The COVID-19 pandemic has made UK children and teenagers acutely aware of money, and the impact it has on people’s lives. Two-thirds of children and teenagers (66%**) say that they worry more about money since the start of the pandemic.
This is particularly true for young children: 71% of 6-10 year-olds said they worried more, compared to 59% of 11-15 year-olds and 68% of 16-18 year-olds. As a result of these anxieties, 44% of young people say that they worry about how they’ll save for events like Christmas or expensive items.
But these concerns produced some savvy savers, and during the first lockdown, children’s average monthly savings in the UK increased by 77%. This is over two-and-a-half times the UK’s Household Saving Rate, which increased to 29.1% in the same second quarter of 2020.  Over the course of the year, children and teenagers saved a total of £12.7 million, which equates to 12% of their total income.
British children and teenagers spent much of 2020 saving for life after lockdown, whether that’s a holiday in the sun or a big shopping trip. But they’re also saving for items that will help them cope with ongoing COVID-19 restrictions, like big ticket tech equipment to keep them connected, and a car or bike to regain their independence and possibly avoid public transport.
Big spenders
In 2020, UK children and teenagers spent a total of £95.7 million, which equates to £367 per child, or £7.00 per child, per week.
With people unable to physically leave their homes, the UK’s kids turned to the virtual world. In the second quarter of the year, gaming accounted for 19% of children’s overall spend; the amount spent on gaming increased by 66% during the first lockdown, from a total spend of £3 million in the first quarter of the year, to £5 million in the second quarter.
Despite the digital boom, during the first lockdown, the amount spent on toys and hobbies also increased by 16% perhaps indicating screen fatigue as homeschooling demanded a huge amount of screentime and kids returned to more traditional games and hobbies.
In contrast to the loungewear boom witnessed amongst adults, being stuck at home didn’t stop UK kids and teens looking sharp.  Over the course of the year, they spent £8.7 million on fashion, with girls spending over three times as much as boys (£6.9 million versus £1.8 million). Girls also spent significantly more on health and beauty - over the course of 2020, girls spent £1.6 million, compared to £140,000 for boys. However when it came to gaming, boys dug deep, spending over £14.3 million during the year, with girls spending just £1.6 million in comparison.
As restrictions eased and the government encouraged us all to Eat Out To Help Out, kids were keen to make the most of these 50% discounts and see friends again. Spending in cafes and restaurants increased by 432%, from £280,400 in April, May and June, to £1.5 million in July, August and September, while the amount kids and teens spent on entertainment (cinemas, theme parks) increased by 9607%, from £900 to £88,000, in July, August and September.
And, at a time when we learnt to sing ‘Happy Birthday’ whilst washing our hands, kids’ hygiene concerns grew. As a result, just over a half (51%) of British children and teenagers** admitted to being more concerned about using cash since the pandemic and ATM withdrawals accounted for just 9% of spending in 2020 – down from 14% in 2018.
The Generous Generation
As the nation rallied together, widespread awareness of initiatives like Marcus Rashford’s campaign for free school meals during holidays, heightened young people’s understanding of the power of their pound – and the different ways they can be good (and do good) with money.
Children and teenagers clearly responded to this message, with gohenry kids giving 59% more than usual to charities during the first lockdown and, over the course of the year, donating over £66,800 to gohenry’s official charity partner, the NSPCC, through micro-donations averaging 7p a week.
For more insight into how Covid-19 changed Gen Z’s and Gen A’s attitudes to money in the UK, view the full gohenry Youth Economy report <a style="color: #4bbb87;" href="http://www.gohenry.com/uk/youtheconomyreport" data-saferedirecturl="https://www.google.com/url?q=http://www.gohenry.com/uk/youtheconomyreport&amp;source=gmail&amp;ust=1619687422308000&amp;usg=AFQjCNGOeRwvjd-LVsX7LDYkcRW4GH2VyA">here</a>
- ENDS -

The Legacy of Lockdown: Canny UK kids cash in on household chores, ramp up savings and give more to charity during Covid-19

By <a style="color: #4bbb87;" href="https://www.gohenry.com/uk/">gohenry</a>

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Surpasses 1.2 million members and turns profitable as more families embrace digital payments and e-learning applications 
London, UK (Dec. 8, 2020)— gohenry, a global leader in building healthy financial habits for kids, today announced a $40 million financing round led by US growth-equity firm Edison Partners with investment from Gaia Capital Partners, Citi Ventures, and Muse Capital.
gohenry has built a community of more than 1.2 million parents and children who are invested in learning the vital skill of being good with money. The company has doubled its customer base annually over the past six years and, notably, has been profitable since March 2020.
gohenry’s mission is to innovate digital banking and payments and revolutionise financial education to help 6-18 year-olds learn good money and financial habits in an increasingly cashless world. The new funding round will be used to accelerate the expansion of gohenry's combined fintech and edtech solution across the U.S., where the company launched in 2018, and for continued growth in the U.K.
“For too long, kids have been locked out of the digital economy and parents lacked the tools to help their children gain confidence with money and finances. gohenry was the first to respond to these needs in 2012 when we launched a groundbreaking financial education app and prepaid debit card that truly empowered children. In 2020, we’ve achieved three key milestones: becoming profitable which many B2C fintechs seek, raising $40m during Covid, and partnering with world leading funds. All three will help us fuel our US expansion.” says Alex Zivoder, CEO, gohenry. “We are proud to partner with Edison Partners, Gaia Capital Partners, Citi Ventures and Muse Capital. Their endorsement allows gohenry to accelerate its expansion and roll out yet more innovations to customers.”
Recognised by LendIt Fintech as the Fintech Equity Investor of the Year for two-years running and also by Institutional Investor as a Fintech Finance Power Player, Edison Partners has financed and guided more than 235 private companies, including financial membership platform MoneyLion and digital wealth management platform Yieldstreet.
Chris Sugden, Managing Partner, Edison Partners, who led the investment said: “gohenry is catering to millions of parents who are looking to raise smart, financially literate children but are currently underserved by existing solutions. We’re thrilled to partner with Alex and the gohenry management team on this next milestone in their growth journey and look forward to realising their ambitions to improve the financial fitness of kids across the globe.”
Chris Sugden will join the gohenry board of directors along with Dawn Zier, an accomplished CEO and marketing expert, best-known for engineering the transformation and growth of Nutrisystem, Inc, as a publicly traded company in the U.S.
Gaia Capital Partners is an entrepreneurial growth equity investment fund whose mission is to champion the new generation of sustainable tech leaders. They have backed a number of successful business scaling from Europe to the U.S. such as teen social app Yubo and cloud telephony software Aircall.
“gohenry is a pioneer in the family finance space, fulfilling the critical mission of improving financial literacy of young people,” said Elina Berrebi, Founding Partner of Gaia Capital Partners.
“Thanks to the strong engagement of their large community of users in the U.K. and the U.S., they have built a very healthy business model at the crossroads of fintech and edtech. We are very proud to partner with the management of this European gem and support their journey to become a global leader.”
Through the gohenry app, U.K. parents provided £98 million in pocket money in 2019, and their children were paid more than £2.2 million for completing tasks around the house. In the same year, gohenry’s young customers directly contributed just under £100 million to the UK economy, with children donating more than £53,000 to gohenry’s UK charity partner, the NSPCC.
ENDS
About gohenry 
Launched in the U.K. in 2012, gohenry is a money app and prepaid debit card, in partnership with Visa in the U.K. and Mastercard in the U.S., with unique parent controls designed exclusively for 6-18 year-olds to help them learn good money habits in an increasingly cashless society. gohenry’s innovative app gives young people the freedom to learn and take charge of their own spending and saving in a safe environment, while the app's parent version allows parents to guide kids through the early stages of digital finance. gohenry is building a global movement of over one million customers who fiercely believe that being good with money is a vital life skill. For more information please visit<a style="color: #4bbb87;" href="http://gohenry.com/uk" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=http://gohenry.com/uk&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNHmKYYo1a4gp3qfMGMKDogmvJRoFg"> gohenry.co.uk</a> or<a style="color: #4bbb87;" href="http://gohenry.com/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=http://gohenry.com/&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNEVZKIvMZpwxz4W-rbDcW8QR9OEGA"> gohenry.com</a>.
In the UK the gohenry card is issued by IDT Financial Services Limited a principal member of Visa Europe. IDT Financial Services Limited is a regulated bank, licensed by the Financial Services Commission, Gibraltar. Registered office: 57-63 Line Wall Road, Gibraltar. Registered No. 95716.
In the US the gohenry card is issued by Community Federal Saving Bank, member FDIC, pursuant to license by Mastercard International.
About Edison Partners
For more than 30 years,<a style="color: #4bbb87;" href="https://www.edisonpartners.com/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.edisonpartners.com/&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNFI8pw0DPb0w9s3Nt-4fA_1ImvswA"> Edison Partners</a> has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and<a style="color: #4bbb87;" href="https://www.edisonpartners.com/edison-edge" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.edisonpartners.com/edison-edge&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNGttiTC8S_QKQfWrdgPs3i56mHByA"> the Edison Edge platform</a>, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalisations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United Stat
About Gaia Capital Partners
Gaia Capital Partners is an entrepreneurial growth equity investment fund. Our mission is to champion the new generation of sustainable entrepreneurs in the field of technology and innovation. We support European scale-ups with the goal to have a positive contribution toward greater environmental and societal challenges. We invest in growth-stage companies from series B and beyond, creating bridges between venture capital and public markets.
Based in Paris, with a presence in Toronto and New York, Gaia Capital Partners backs European scale-ups such as Welcome to the Jungle, Aircall, Yubo and gohenry.
<a style="color: #4bbb87;" href="http://www.gaiacap.co/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=http://www.gaiacap.co&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNEXa0JS4NSBDkvI84jVSwNdsigYYA">www.gaiacap.co</a>
Join us on <a style="color: #4bbb87;" href="https://medium.com/gaia-voice" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://medium.com/gaia-voice&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNERNTW-tGIxgsyx56CXcZqLBdSgpw">Medium</a>, <a style="color: #4bbb87;" href="https://twitter.com/GaiaCapital" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://twitter.com/GaiaCapital&amp;source=gmail&amp;ust=1607507351430000&amp;usg=AFQjCNERElkhWCvdjGwnrBhB_NT0EwYoCQ">Twitter</a> and <a style="color: #4bbb87;" href="https://www.linkedin.com/company/gaiacap/?viewAsMember=true" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/company/gaiacap/?viewAsMember%3Dtrue&amp;source=gmail&amp;ust=1607507351431000&amp;usg=AFQjCNFWziNg2MWV3GCfsFlHPCWTE8bUEg">LinkedIn</a>

gohenry raises $40M in growth capital to accelerate expansion and boost financial education for families in the U.S. and U.K.

By <a style="color: #4bbb87;" href="https://www.gohenry.com/uk/">gohenry</a>

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Donations to NSPCC up 22% since Lockdown on kids money app, gohenry
New figures from family banking app and prepaid Visa debit card, gohenry, reveal £100,000 has been donated to the National Society for the Prevention of Cruelty to Children (NSPCC) by its Gen-Z customers. The app allows children to give one-off and regular donations to the charity and, since the start of the pandemic, gohenry’s one million customers have been giving more than ever before, with donations through the app up 22% since 23 March 2020* and over £21,000 donated since lockdown began. Six-to nine-year-olds led the biggest upturn, with a 34% increase in donations from this age group.

<div class="adL">
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“We are all about teaching kids healthy money habits and our giving function means they can make the choice to support others who need an extra hand during difficult times too,” said co-founder and COO of gohenry, Louise Hill.
“Our ethos is to empower children to earn, save, spend, and give responsibly in a safe environment. By providing an in-app donation option, children as young as six are able to learn how even a small amount of money can make a big difference to the world around them. It’s heart-warming to see donations from our kind-spirited young community increase during this period of lockdown, which has had a huge impact on charities’ ability to fundraise.” adds Louise.
Victoria Larley has two daughters, Eve (13) and Martha (10), who both use gohenry.  She thinks teaching kids about giving is important to instil at a young age: “I think it’s good to offer charities that are as relatable as possible so that children understand the benefits of donating. That’s why we like supporting the NSPCC,” she said. “Eve and Martha like the whole idea of helping people who need it, and it brings home to them how lucky they are to live in a safe family environment.”
Eve added: “It’s important to continue to give to charities if you can right now. I wouldn’t have wanted to stop donating because of coronavirus as charities need our help more than ever before.”
The NSPCC is the leading children’s charity fighting to end child abuse in the UK and Channel Islands. The NSPCC and gohenry have been working together since 2018 to encourage young people to give a little to those in a less fortunate position than themselves.
Mike McGrath, Head of Partnerships at the NSPCC said: “We are extremely grateful to gohenry and their generous young customers for every donation made. Young people are at the heart of everything we do. Raising this huge amount of money is a fantastic achievement by young people who are learning how their money can help others. Their kind donations enable us to still be here for children who need us now more than ever.”
For more information, interview or hi-res imagery please contact <a style="color: #4bbb87;" href="mailto:gohenry@threesixtycomms.com" target="_blank" rel="noopener noreferrer">gohenry@threesixtycomms.com</a>
*Figures taken from 23,008 gohenry children for the six weeks since lockdown, compared to the six weeks before.

</div>
</div>

Socially-Conscious Gen-Z Are Giving More Than Ever Before

<div>Launched in the UK in 2012, gohenry is a prepaid Visa debit card and app with unique parent controls designed exclusively for 6-18 year-olds to help them learn good money habits in an increasingly cashless society.</div>
<div></div>
<div>gohenry’s innovative app gives young people the freedom to learn and take charge of their own spending and saving in a safe environment, while the app's parent version allows parents to guide kids through the early stages of digital finance.</div>
<div></div>
<div>Having recently expanded into the US with Mastercard, gohenry is building a global movement of over 850,000 users who fiercely believe that being good with money is a vital life skill.</div>

gohenry

<div>Launched in the UK in 2012, gohenry is a prepaid Visa debit card and app with unique parent controls designed exclusively for 6-18 year-olds to help them learn good money habits in an increasingly cashless society.</div>
<div></div>
<div>gohenry’s innovative app gives young people the freedom to learn and take charge of their own spending and saving in a safe environment, while the app's parent version allows parents to guide kids through the early stages of digital finance.</div>
<div></div>
<div>Having recently expanded into the US with Mastercard, gohenry is building a global movement of over 850,000 users who fiercely believe that being good with money is a vital life skill.</div>