Not many business founders can trace their inspiration directly to their children taking money without permission, but that's precisely the origin story for Louise Hill, the entrepreneur behind the successful children's prepaid debit card service, GoHenry. Launched in 2012, the idea emerged from Hill's personal frustrations as a parent, which she transformed into a thriving fintech venture that champions financial education for the young.
The Spark of an Idea
Hill first noticed small, unrecognised payments on her bank statements stemming from her children's unauthorised spending on their iTunes accounts. In response, she printed out the receipts, stuck them to the fridge, and deducted the amounts from their pocket money. However, her children remained undeterred, prompting Hill to share her frustrations with other parents during a Saturday football match.
To her surprise, everyone had a similar tale to tell. One child had run up a substantial bill purchasing tail and mane decorations for a digital Little Pony, while another had splurged on eBay. These conversations highlighted a widespread need for a safe, limited way for children to spend money online, allowing under-18s to budget and build their own financial skills from an early age.
Building the Business
Thirteen years later, GoHenry boasts 2.3 million members and a net worth of £6.3 million. Hill, now a regular visitor to Downing Street, serves as a CEO, investor, and pioneer for children's financial literacy. Her advocacy efforts successfully campaigned for financial education to become part of the primary school curriculum in England by 2028.
Reflecting on her journey, Hill emphasises that she didn't start with a wealthy husband, a banking background, or family wealth. "It was just me, the two kids and a big mortgage," she recalls. "I didn't really have any savings other than a £2,000 emergency buffer. So, I had to go out and find people who were prepared to believe in the GoHenry vision, gamble on me, and put some money behind it."
Securing Funding
Hill was introduced to a financial advisor who connected her with high-net-worth individuals interested in start-up investments. Subsequently, she and her team managed to secure a spot at a pitch event run by HSBC and Coutts. The funding process was arduous, taking nearly 18 months to complete.
"We raised £672,000 just to be able to get the business off the ground," Hill explains. "It was a long, hard slog. Lots of nos. But we got there." This perseverance paid off, allowing GoHenry to launch and grow into the influential platform it is today.
Overcoming Challenges
Hill launched GoHenry at the age of 47, bringing experience from a previous ecommerce business called Manners, which she sold in 2002. However, she admits to knowing nothing about banking, securing investment, or forming a board of directors at the outset. "I've learned along the way," she says, highlighting the value of joining an entrepreneurs' group where she gained insights from seasoned professionals.
She faced significant scepticism early on, with initial critics arguing that children couldn't have debit cards due to financial regulations. "Well, guess what? They do," Hill asserts, pointing to the millions of children now using GoHenry as proof of concept.
Personal Growth and Impact
For Hill, the success of GoHenry has brought more than financial gain. "I'm not rich yet," she notes, having sold only a few shares over the years. "My life has changed because of GoHenry – not money. I've ended up in some amazing places. I didn't even realise how many times I'd been in Downing Street until I was sent all the pictures."
She values the platform's ability to amplify her voice for parents and children, emphasising that the real difference lies in advocacy and impact rather than personal wealth.
Financial Advice and Regrets
Drawing from her parents' humble beginnings, Hill is determined to teach her children that investing and using a financial advisor aren't exclusive to the wealthy. "You can start with a couple of quid and turn it into a nest egg," she advises, promoting easy access, low-entry investing through medium-risk diversified funds.
She also recommends giving children regular pocket money, even if it's just 50p a week, to foster savings habits early on. "If they know they're going to get 50p every week on a Saturday, then it's incredible how quickly data shows that they start to save up," she observes, highlighting the importance of consistency in building financial discipline.
On a lighter note, Hill shares her biggest money regret: buying uncomfortable shoes and sale items that didn't fit or match her wardrobe. She now adopts a more practical approach, focusing on cost per wear. Her best purchase remains a Mulberry barrel bag bought on sale with an employee discount early in her career, which she still uses today, exemplifying the value of long-term investments.
Looking Ahead
Louise Hill continues to champion financial literacy as part of the FFinc Forward Faster Accelerator 100, a UK-based programme launched in September 2025 to help female-founded companies scale their growth. Her journey from parental frustration to fintech pioneer serves as an inspiring testament to resilience, innovation, and the power of a strong idea in the business world.
