Barclays PLC today announced that Barclays Bank UK PLC (“Barclays UK”) has successfully completed the acquisition of GoHenry, operating through GoHenry Limited, from Acorns Grow Incorporated.

The transaction accelerates Barclays’ strategy to build deeper relationships with customers across more of life’s key moments. Barclays intends to retain the GoHenry brand with its standalone app. The deal brings together a renowned youth proposition and Barclays’ expertise in banking, enabling Barclays to serve customers of all ages.

The transaction is expected to marginally reduce the Group’s CET1 ratio.

Vim Maru, CEO of Barclays UK, commented:

“Today marks an exciting milestone as GoHenry officially joins Barclays. GoHenry has built a market-leading brand, helping young people develop confidence with money through its innovative all-in-one app. Together, we will combine GoHenry’s experience with Barclays’ scale to strengthen support for families across the UK.”

Louise Hill, Founder of GoHenry, commented:

“Fourteen years ago, we started with a mission to make every kid smart with money. Since then, we’ve helped millions of young people do exactly that, and along the way we’ve built a deep understanding of children, parents and their money management needs. This next chapter with Barclays will enable us to reach many millions more and support families across the UK with the products and services they need as children grow into adulthood. Together with Barclays, we can do even more for our members – and more for financial literacy in the UK.”

Noah Kerner, CEO & Chairman of Acorns, commented:

“Acquiring GoHenry in 2023 accelerated our vision of bringing financial wellness to the whole family, establishing Acorns Early as a US leader in the kids space with over 1.4 million customers. With that chapter complete, we’re doubling down on building the leading financial wellness app for American families. Barclays has the scale and reach to bring GoHenry’s important mission to many more kids across the UK, and we’re excited to see what they’ll build together.”

Acorns will retain the GoHenry US business, which now operates under the Acorns Early brand, as well as Pixpay in Europe.