By Tom Metcalf | Updated on Jun 12, 2026 at 07:57 AM
Barclays Plc’s UK bank has agreed to buy GoHenry, a digital platform that offers money management services to more than half a million British children.
The purpose-built app offers a prepaid debit card with parental controls, allows family members to open junior individual savings accounts and kids from the age of 6 to set savings goals and complete money lessons.
The purchase from Acorns Grow Inc. is expected to complete in the fourth quarter, according to a statement Friday.
The transaction provides Barclays with one of the most recognized brands in youth banking and is designed to deepen the bank’s relationships with lucrative mass affluent households.
The deal is expected to reduce the lender’s common equity tier 1 ratio — a key measure of capital strength — by approximately 5 basis points, but won’t impact the bank’s financial targets for 2026 or 2028, Barclays said in the statement. Other financial terms of the transaction weren’t disclosed.