Greenlight Financial Technology, Inc., an Atlanta, GA-based money management platform purpose-built for families, secured $215m in Series C funding.
The round, which valued the company above $1.2 billion, was led by Canapi Ventures and TTV Capital with participation from new investors BOND, DST Global, Goodwater Capital and Fin VC along with Greenlight’s first institutional investor Relay Ventures.
The company intends to use the funds to expand its business reach.
Greenlight parent-managed debit card for kids with companion apps give parents the ability to pay allowance, manage chores and set flexible, store-level spend controls. Kids explore lessons in earning, saving, spending and giving with a debit card and app designed just for them.
Founded in 2014 by Johnson Cook and Tim Sheehan, Greenlight provides a money management platform purpose-built for families and a debit card for kids that allows parents to manage by app using flexible parental controls. Patent-pending technology enables parents to choose the exact stores where their children can spend, manage chores, set parent-paid interest rates on savings and more. Kids monitor spending, watch their savings grow and learn to make real world trade-off decisions.
The company now serves more than 2 million parents and kids.
The Greenlight Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.