Not many founders can say that their children taking money from them gave them their idea for their business; But that’s what happened to Louise Hill, who launched the children’s prepaid debit card GoHenry in 2012. She’s started noticing small unrecognised payments on her bank statements from her children spending money on their iTunes accounts, without permission. She printed out the receipts, stuck them to the fridge and deducted the amount from their pocket money; Still, they were undeterred.
One Saturday, on the sidelines of her son’s football match, Hill shared her frustrations with other parents. Everyone had a similar story; A child who’d run up a huge bill buying tail and mane decorations for her digital Little Pony. Another had splurged on eBay. Hill realised there needed to be a way for children to spend safely, with a limit, online; For under-18s to budget and build their own money.
