Barclays Acquires GoHenry to Build Lifetime Banking Relationships

Barclays is buying GoHenry, the U.K. money management platform for children ages 6 to 18, in a deal that positions the bank to capture customers before they ever open their first adult account.

Barclays Bank UK announced the acquisition Friday, with completion expected in the fourth quarter of 2026, subject to regulatory approval. Financial terms were not disclosed. The GoHenry brand and its standalone app will remain intact under Barclays ownership.

GoHenry, which launched in 2012, has served more than 2 million young people since its founding and currently has more than half a million active U.K. users. Its platform gives children a prepaid debit card with parental controls, in-app savings goals, financial education lessons and Junior ISA investment options. The app carries a net promoter score of +58.

The deal marks a clean handoff. Acorns, the U.S. financial wellness company that acquired GoHenry in 2023, is selling the U.K. business to Barclays while retaining its U.S. GoHenry operation, now branded as Acorns Early, along with Pixpay in Europe. Acorns CEO Noah Kerner said selling the U.K. business would allow GoHenry “to serve many more U.K. kids and further its important mission.”

For Barclays, the strategic logic goes beyond youth market share. Vim Maru, CEO of Barclays UK, framed the acquisition as a way to serve customers “through all of life’s big moments, whether opening a very first account, saving for retirement, and everything in between.” GoHenry founder Louise Hill made the continuity argument explicit: “Financial education shouldn’t have a start or end date.”

The deal will reduce Barclays’ CET1 capital ratio by approximately 5 basis points upon closing, which the bank said will not affect its financial guidance or targets for 2026 or 2028.

The acquisition reflects a broader push by traditional banks to reach younger customers before FinTech competitors do. PYMNTS has tracked how Gen Z’s purchasing power is projected to reach $12 trillion within five years, creating urgency around early customer acquisition. PYMNTS reported in March that Gen Z is using mobile apps and credit to build financial discipline, while banks are under pressure to meet Gen Z’s digital expectations or risk losing the next generation of depositors entirely.