GoHenry - the pocket money card for kids
by Startacus Admin
GoHenry - Money management for kids thanks to this innovative startup which offers a pre-paid, pocket-money Card and app with unique parental controls, for young people aged 6 to 18...
Money habits, whether good or bad, are learned as young as seven years old. Children, understandably, have no grasp of the imaginary, man-made concept of monetary value. This is why children can rack up massive bills when playing mobile games, buying music, shopping on Amazon, or anything else their parents haven’t managed to get parental locks onto. The beginnings of this understanding, and a degree of financial responsibility, comes when parents and/or grandparents start giving children pocket money. Suddenly, they find themselves with tangible money that they exchange for tangible things and then have less. And so begins their understanding.
Today’s world, however, is increasingly digital, and this extends to money. Whether shopping online or in person at the till, credit and debit cards are ever more common. So how do we go about teaching children about money when it’s just a number on a screen?
GoHenry is a tech startup based in Hampshire that was created for this purpose.
The app allows parents to set up an account and provide their children with a card - essentially a debit card - that can be used anywhere that displays the Visa sign.
What kinds of places the card can be used is one of the many things parents control - cash machines, card machines, online, wherever you do and do not want them to be able to spend. 
And with real-time notifications, you can see when and where they are spending money.
Through the app, children can set goals to save for, parents can set chores and tasks for them to earn some extra money, and they can send instant one-off payments. If necessary, the card can also be instantly cancelled.
Currently, GoHenry is raising funding on CrowdCube. With 6 days left, they have raised £5.7m of their £2m goal. This alone shows that there is a big market for this kind of money management system for parents and children.
If you like the sound of this Kid/Parent-Tech focused startup business, you might also want to read up on:
BleepBleeps - the tech parenting brand
Koru Kids - Innovation in childcare
Highbrow - Media Content aimed at children
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Sid Madge, founder of Meee shares his tips on starting as you mean to go on, by getting the very best from your staff in 60 seconds
Transforming how we consume fashion - By Rotation is a peer-to-peer fashion rental app that will empower you to do good for your wardrobe, your wallet and planet
Bwalya Kasase, Business Process Consultant at Rebel Energy shares insights on how the renewable energy supplier uses digital workers to improve the customer experience
Peppy secures major investment to help scale its existing menopause, fertility, pregnancy and early parenthood support, and support the introduction of a range of new services.
One Year No Beer, the alcohol-free support service fundraises to scale its business following reports indicating huge surge in alcohol-related deaths since Covid.
The lowdown on Junk Kouture, the Irish-based global platform that's on a mission to unleash the creative brilliance of young people
Considering selling your startup's tech innovation to the healthcare industry? These tips from Evelyne Priestman, Health Economist, Health Enterprise East should help...
Wilton London exceeds crowdfunding target to support its aim of becoming the UK’s number one eco household cleaning brand
TestGorilla is a startup that's on a mission to help you identify the best candidates and make your hiring decisions faster, easier, and bias-free
Major investment for her1, the digital health impact company that's dedicated entirely to female wellbeing...
Published on: 21st October 2018
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Peppy Raises £6.6M for its digital health platform 27th Jul 2021 Peppy secures major investment to help scale its existing menopause, fertility, pregnancy and early parenthood support, and support the introduction of a range of new services.
- One Year No Beer launches new £500K crowdfunding campaign 26th Jul 2021 One Year No Beer, the alcohol-free support service fundraises to scale its business following reports indicating huge surge in alcohol-related deaths since Covid.
- Smart Nano NI awarded £42.4m funding from UKRI 22nd Jul 2021 Major boost for the NI economy as nanotechnology consortium, Smart Nano NI awarded £42.4m by the Strength in Places Fund to support development of new technology for medical devices, communication and data storage.
- Ntropy Raises $3.2M for its innovative data platform 20th Jul 2021 Ntropy secures major investment to help with expansion of its team, support market growth and future product development.
