Greenlight: $215 Million Series C Funding And $1.2 Billion Valuation

By Dan Anderson ● September 28, 2020
  • Greenlight — a fintech company that is on a mission to help parents raise financially-smart kids — recently announced a valuation above $1.2 billion after raising $215 million in Series C funding

Greenlight Financial Technology — a fintech company that is on a mission to help parents raise financially-smart kids — recently announced a valuation above $1.2 billion after raising $215 million in Series C funding. This funding round 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.

Since Greenlight launched its debit card for kids in 2017, the company has experienced major growth. And the company now serves over 2 million parents and kids, helping them manage their family finances and navigate the world of money together. So far, Greenlight kids have collectively saved more than $50 million.

Greenlight is considered a comprehensive all-in-one money management platform purpose-built for families. And its 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 are able to explore lessons in earning, saving, spending, and giving with a debit card and app designed just for them.

The Series C funding will accelerate Greenlight’s mission, propelling the company to reach more families and provide them with new ways for kids to learn about the world of money. And in the coming months, Greenlight families can look forward to a completely reimagined app and new investing tools made for kids.

KEY QUOTES:

“We’re honored to partner with both new and existing investors for our Series C round to continue inspiring future generations to be financially happy and healthy.”

— Johnson Cook, President and Co-Founder of Greenlight.

“Greenlight’s rapid growth is a testament to the value they bring to millions of parents and kids every day. My wife and I trust Greenlight to give us the modern tools to teach our children how to manage money. TTV Capital is thrilled to provide continued investment to help the company empower more parents.”

— Gardiner Garrard, Founding Partner at TTV Capital

“Greenlight’s purpose-based mission of bringing financial literacy to families is massively impactful. We’re super excited to back this amazing leadership team who is introducing financial services to an entirely new demographic.”

— Neil Underwood, partner and co-founder of Canapi Ventures

“Greenlight’s smart debit card is transforming the way parents teach their kids about responsible money management and financial literacy. Having achieved phenomenal growth year-over-year, this is a company on the fast-track to becoming a household name. We look forward to working alongside the Greenlight team to support their continued growth.”

— Noah Knauf, general partner at BOND

“Our vision is to help all families worldwide to be smart about personal finance, providing innovative ways for kids to learn, so that every child can reach their full potential. We look forward to continuing to grow with our families.”

— Tim Sheehan, CEO and Co-Founder of Greenlight