Neobanks have made a name for themselves by successfully winning the business of newly-minted adults, opening their first checking, savings and investment accounts and uninterested in doing business with clunky, expensive legacy banks. Now a new wave of startups and services has been getting a jump on that model with an even earlier target: under-18s including kids as young as 6, and in the latest development, UK fintech GoHenry is announcing $55 million in funding to double down on the opportunity.
The equity funding is coming from previous backers Edison Partners and Revaia (formerly Gaia), with a strategic investment from Italian payments company Nexi, a new backer.
The company is not disclosing its valuation but I understand it’s more than $250 million and less than $500 million. It brings the total raised by GoHenry (named, the company says, after its first child-customer) to $125 million, including a $40 million
