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Greenlight raises $215m for kids' debit card

Greenlight raises $215m for kids' debit card

Greenlight Financial Technology, the startup behind an app and debit card for kids, has joined the unicorn club after closing a $215 million Series C funding round at a $1.2 billion valuation.

The series was led by Canapi Ventures and TTV Capital with participation from Bond, DST Global, Goodwater Capital, Fin VC and Relay Ventures. JPMorgan Chase and Wells Fargo have previously invested.

Atlanta-based Greenlight combines a "smart" debit card with an app to help kids improve their financial literacy while giving parents controls on spending.

Parents can pay allowances, manage chores and set flexible, store-level spend controls, while kids explore lessons in earning, saving, spending and giving.

Launched in 2017, the company now serves more than two million parents and kids, who have collectively saved more than $50 million.

The new funding will be used to push this growth, with the firm gearing up to roll out a revamped app and investing tools in the next few months.

Comments: (2)

Jim Wells
Jim Wells - Wellspring Consulting International - Fort Lauderdale 25 September, 2020, 19:26Be the first to give this comment the thumbs up 0 likes

Congratulations on filling this important & long abandoned niche!!!

Disgraceful that Federal regulators would allow US banks to abandon the passbook savings accounts that introduced generations of young Americans to the banking system and personal financial and provided them a taste of economic independence. 

Jim Wells
Jim Wells - Wellspring Consulting International - Fort Lauderdale 25 September, 2020, 19:28Be the first to give this comment the thumbs up 0 likes

*personal financial management*

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