Barclays has agreed to acquire GoHenry’s UK business from Acorns, as the bank looks to build out its youth and family banking offer in the UK.

The transaction should complete in Q4 2026, subject to regulatory approval and other conditions.

GoHenry will keep its brand and standalone app after the deal completes. Acorns will retain the US GoHenry business, now operating as Acorns Early, as well as Pixpay in Europe.

The companies did not disclose the value of the transaction. The Times reported that the deal was worth about £180 million, citing analyst estimates based on the expected impact on Barclays’ core capital ratio

Barclays focuses on households and families

GoHenry offers a money app and prepaid debit card for six to 18-year-olds, with parental controls, savings goals, spending tools, money lessons and access to Junior ISAs.

The company launched in the UK in 2012 and says it has helped more than two million UK child members build money skills since then. Barclays said GoHenry currently serves more than half a million UK children and has a team of around 200 people.

Barclays said the deal would support its strategy to deepen customer relationships, including with mass affluent households. The bank said GoHenry would strengthen its offer for households and families and give GoHenry members a pathway to continue their money journey when they turn 18.

Vim Maru, CEO of Barclays UK, said: “GoHenry has played a pioneering role in creating youth-focused financial services, building a market-leading brand for children thanks to its innovative all-in-one app. We’re excited to welcome GoHenry to Barclays, where it will turbocharge our offering for households and families.

“GoHenry supports our vision to offer a deep and seamless banking experience to customers through all of life’s big moments, whether opening a very first account, saving for retirement, and everything in between.”

Barclays Group chief executive C.S. Venkatakrishnan, known as Venkat, also described the deal on LinkedIn as “another important step” in the bank’s strategy. He said it reinforced Barclays’ commitment to growth in the UK and would help parents support children through “a more seamless financial experience.”

GoHenry to stay as standalone app

GoHenry focuses on helping children learn how to earn, save, spend and invest. In 2020, the company introduced Money Missions, a set of in-app financial education lessons designed to sit alongside the practical experience of using its app and card.

In 2021, GoHenry expanded into family investing through its Junior Stocks and Shares ISA, which uses a single diversified fund managed by Vanguard.

Louise Hill, founder of GoHenry, said: “Our mission has always been to make every kid smart with money. Joining forces with Barclays gives GoHenry a platform to accelerate that mission in the UK. It also enables us to offer GoHenry members a pathway to continue their money journey when they hit 18 – because financial education shouldn’t have a start or end date. GoHenry isn’t going anywhere. What changes is our ability to do more.”

GoHenry has also campaigned for financial education to form part of the school curriculum from primary age in England. The change will take effect from September 2028.

Acorns keeps US and European businesses

US financial wellness company Acorns acquired GoHenry in April 2023. Under the Barclays transaction, Acorns will retain GoHenry’s US business, now known as Acorns Early, and Pixpay in Europe.

Noah Kerner, CEO of Acorns, said: “At Acorns, we’re bringing financial wellness to the whole family. Acquiring GoHenry in 2023 accelerated that ambitious vision, establishing Acorns Early as a US leader in the kids space with over 1.4 million customers.

“As we double down on growing the leading financial wellness app for American families, selling the GoHenry UK business to Barclays allows GoHenry to serve many more UK kids and further its important mission.”

Barclays said the acquisition should reduce its CET1 ratio by around five basis points on completion, based on its CET1 ratio as of 31 March 2026. The bank said the transaction will not affect financial guidance or targets for Barclays Group or Barclays UK for 2026 or 2028.

Barclays and Acorns are also exploring other partnership opportunities in the US and UK.