Younger generations have been the target market of many financial services and companies. When these companies find the right way to connect with this target market, they typically have them as customers for years to come. One startup company is specifically targeting kids aged between 6 and 18. That company is GoHenry, and they recently raised $40 million in growth.
What Is GoHenry
GoHenry is an app that provides prepaid debit card features to minors, along with financial information. This app can be controlled and also topped up by parents as needed. The startup recently raised $40 million in its first institutional fundraiser. Before this, GoHenry was able to raise close to $30 million with help from family and friends and through equity crowdfunding. So far, the company has about 5,000 shareholders and half of them are customers.
The startup company has more than 1 million members. This includes both parents and kids, but they have doubled their customer base every year for the past 6 years. Studies that were conducted in the UK stated that parents paid £98 million ($130 million) in pocket money in the year 2019 alone. Their children were getting more than £2.2 million ($2.3 million) for just doing chores around the house. In turn, the young users of the prepaid debit cards spent almost £100 million ($132 million).
Banking With a Purpose
The idea behind GoHenry was not only to have a banking service for the younger generation but to have a banking service that also has a purpose. There has always been a divide between young people dealing with money. They typically get cash from their parents or have a savings account where the money is deposited.
It used to be impossible for minors to have payment cards, but now, more and more financial services are being created. It helps younger users learn to be responsible with money and understand what it means to work and earn it.
Spot is a robot dog developed by Boston Dynamics and used by the NYPD for various tasks. It was recently seen at an active crime scene that took place in New York City. The NYPD responded to a shooting that occurred over a parking dispute on a Wednesday at around 10 pm. This took place in Cypress Hills in Brooklyn, NY, and Spot was photographed going out with the NYPD’s Emergency Services Unit.
Spot the Robot Dog Is Mainly an Inspection Unit
Even though the NYPD was asked how they use the robot dog, it is as of yet unclear what Spot’s duties actually involve. According to Boston Dynamics, Spot was made and programmed to be an inspection robot first, and it is best used to capture data and navigate different terrain. The four-legged robot can carry up to thirty-one pounds of equipment, including inspection gadgets, iPads, and cameras. It weighs roughly 65 pounds and is controlled with a tablet app. However, the robot dog can also be programmed to go on autonomous missions.
The Massachusetts State Police Was the First Agency to Use the Robot Dog
In 2019, the Massachusetts State Police became the first law enforcement agency to put to use the capabilities of the robot dog. It was given to them on loan from Boston Dynamics and was used as a mobile remote observation device. In the past, Spot was also used to aid factory workers and help assess people with health issues.
This time, Spot had to enter an active crime scene. While the role of the robot is unclear, the scene involved a suspected shooter who allegedly opened fire and struck the wife of his intended target. He then ran into a nearby building and barricaded the place. Soon after the NYPD showed up at the scene, the suspected shooter was taken into custody. Give the nature of the situation and the purpose of the robot, people suspect that Spot was deployed to enter the building and investigate the area.