UK-based kids' bank account app gohenry raises $40 million

LONDON, Dec 8 (Reuters) - Children's bank account app
gohenry said on Tuesday it had raised $40 million to fund
expansion in its home market of Britain and in the United
States.

Gohenry, which was founded eight years ago, offers accounts
for children charging parents 2.99 pounds ($3.99) per month. It
is used by 1.2 million parents and children.

A raft of fintechs have launched services for children and
teenagers in recent years, hoping to capitalise on an ecommerce
boom and hold on to new customers into adulthood.

Gohenry said the funding round was led by U.S. growth-equity
firm Edison Partners and included investment from Gaia Capital
Partners, Citi Ventures, and Muse Capital.

Alex Zivoder, gohenry's chief executive, told Reuters last
month the company - which made a 5.8 million pound pretax loss
last year - was on track to make a profit within a few years and
made an underlying profit in the second and third quarters of
2020.

($1 = 0.7488 pounds)
(Reporting by Iain Withers; Editing by Mark Potter)