22 Apr 2020
We have some exciting news: we now have one million parents and kids in the gohenry family.
We’re very grateful, and would like to thank each and every one of you for being part of our skyrocketing gohenry community. With your help, we’re building a global movement with families who believe being good with money is a vital life skill.
In 2019 alone, we had almost 250,000 new gohenry kids and teens join, so if you haven’t already signed up, now is the perfect time to join us.
We’ve had a busy few years since we launched the gohenry debit card for kids back in 2012. Our iOS and Android app followed a few months later and, in 2016, we broke records for the largest equity crowdfunding in the world when we raised over $5 million of which over $2m came from our own customers! By 2018, we had 500,000 customers – and it’s taken us less than two years to double that figure to a cool one million.
In 2019, our users spent more than $100 million on their gohenry cards!
In the last year alone, we activated more than one hundred times more gohenry cards than we did in 2013. Kids and teens love our customized cards and, in the US, the most popular card designs are the basketball card, the pineapple card, and the chihuahua card (woof woof!)
Our community are also savvy savers: in 2019, gohenry kids put over $3 million towards their saving goals, which is three times more than they stashed away back in 2017.
We’re on a mission to inspire and enable parents and children to manage their money more effectively, and our customers tell us they value our focus on financial education, convenience and safety.
As we live in an increasingly cashless society, we believe that kids need access to the digital economy so that they can understand the value of money and learn how to be savvy with managing it.
So we’re working hard to empower Gen-Z as they earn, save, spend and give; after all, their financial habits will shape the future economy.
We know that parents appreciate the convenience of paying allowance directly into their child’s account. It’s less hassle than finding cash every week, and it’s easier to keep track of.
In 2019 alone, gohenry cardholders earned in excess of $140 million in allowance, and were paid more than $5.4 million for completing tasks around the house. The top five tasks? Tidying their room, packing / unpacking the dishwasher, making their bed, doing their homework and putting their clothes away.
We believe that kids learn the true value of money when they begin to understand what it could mean to those less fortunate. So we’re bursting with pride that, in 2019, more than 16,000 gohenry kids donated over $75,000 to our charity partners via their gohenry cards.
gohenry cardholders are already showing an incredibly mature attitude towards money management.
To date, gohenry kids have spent over $320 million on their gohenry cards with over $30 million spent on video games!
When they need to refuel, gohenry kids head to McDonald’s (1), where they’ve spent more than $8.8 million on Big Macs and chicken nuggets.
And yes, you know they want fries with that.
But if you’re worried that they’ll blow all their cash on gaming and snacks, it’s easy to set spending limits on the gohenry app and for your kids to set automatic savings goals. Plus, each time they spend you receive a notification – so you’ll know when they’ve stopped off for a tasty after-school snack.
As we celebrate the stratospheric growth of our community, we’re so proud of how far we’ve come – and the fact that we’ve helped one million customers learn more about money management is our greatest achievement.
In the words of gohenry cardholder Morgan, age nine: “Having my gohenry card has really taught me how much things cost. Mom doesn’t mind if I want to buy something when we go to the stores but, because it comes out of my account, I think about it really hard. I do sometimes buy little things, but mostly I wait a long time for something I really want.”
(1) gohenry does not have any formal affiliation with McDonald’s and this is not an official endorsement of their products.