Step, a Palo Alto, CA-based provider of financial solutions for the next generation, raised $300M in Debt funding.
The funding was led by Triplepoint Capital, and Evolve Bank & Trust.
The company intends to use the funds to accelerate growth, launch crypto investing solutions and accelerate investments in product infrastructure.
Founded by financial industry veterans CJ MacDonald and Alexey Kalinichenko, Step is a platform that allows people under the age of 18 to build a positive credit history with their own secure Step Visa Card, opening doors to better terms and more comprehensive financial products earlier in adulthood. In addition to this new funding, today, the company launched crypto investing with buying and selling bitcoin. Stocks and other cryptocurrencies will be added to the platform soon.
The company has more than 3 million customer accounts and has raised more than $500 million in venture and debt funding, backed by Coatue, Crosslink Capital, General Catalyst, Stripe and several other prominent investors.
FinSMEs
12/10/2022