Hill's gohenry raises $40M
Gaia Capital Partners, which was co-founded by Alice Albizzati and Elina Berrebi, and Muse Capital, which was co-founded by Assia Grazioli-Venier and Rachel Springate, invest in a company founded by Louise Hill that is seeking to teach children healthy financial habits. Gaia and Muse took part in gohenry’s $40 million financing round, which also included Edison Partners and Citi Ventures.
Based in London, gohenry is a money app and prepaid debit card designed for 6 to 18 year olds with parental controls. The company has a partnership with Visa in the U.K. and Mastercard in U.S. and has built a community of more than 1.2 million parents and children. Through gohenry’s app, U.K. parents provided 98 million pounds in pocket money in 2019. Children, meanwhile, were paid 2.2 million pounds for completing tasks around the house.
Louise, who founded the company in 2012, is now gohenry’s chief operating officer. In conjunction with the financing, Dawn Zier joined gohenry’s board. She is the former CEO of Nutrisystem, Inc.
In a statement, Elina called gohenry “a pioneer in the family finance space” and said the company has “built a very healthy business model at the crossroads of fintech and edtech.”
Gaia has now backed four companies over the past year. The others are Yubo, a social platform; Welcome to the Jungle, a media and tech company that is focused on making work more human; and Aircall, which is building a software-as-a-service company around phone calls. All three of those companies are in Paris.
Alice and Elina formed Gaia in 2018 and are looking to close their debut fund early next year. Alice previously held investing roles with Verlinvest, LBO France and FSI – Fonds Stratégique d’Investissement where Elina was also an investor. Elina’s background also includes serving as an investment professional with Eurazeo.
Muse, which Assia and Rachel founded in 2016, recently backed Queens Gaming Collective, which was founded by Alisa Jacobs to bring more women into the gaming industry. Muse is an early-stage strategic angel investment fund focused on consumer-facing entrepreneurs and technologies that are creating next-generation consumer products by disrupting traditional industries. The firm’s investments also include ReplyYes, which utilizes text and Facebook messaging to help brands personalize audience engagement, and Haute Hijab, a direct-to-consumer fashion and lifestyle brand for Muslin women co-founded and led by Melanie Elturk. .