Atlanta’s fintech darling Greenlight, which makes controlled debit cards for kids to learn about savings and financial literacy, announced today the company has raised $215 million in Series C funding.
This brings the company’s valuation to over $1.2 billion.
The series was led by Canapi Ventures and TTV Capital, and included new investors from BOND, DST Global, Goodwater Capital, Fin VC and Relay Ventures.
“At a time like this, parents have an opportunity to be open with their kids and start conversations about money and the importance of saving,” Greenlight’s CEO and co-founder Tim Sheehan told Hypepotamus.
“Greenlight gives families the tools they need to have these conversations, by encouraging kids to get hands-on experience managing their money in a safe and supervised environment. Greenlight has supported families throughout the pandemic — encouraging kids to think about emergency savings funds and providing families with ways to donate to COVID-19 relief causes. As kids learn from home and parents adjust to an even more digital world, it’s important for families to have a digital way to manage their family finances, with guardrails in place,” Sheehan continued.
Since its founding in 2017, kids using Greenlight have saved over $50 million collectively.
Greenlight has grown to be one of the larger players in the Atlanta fintech community. According to Sheehan, the company has grown 30% since April alone. Sheehan also told Hypepotamus that the new funding round will help Greenlight bring on more engineers and product managers.
“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,” said Gardiner Garrard, Founding Partner at TTV Capital said in a statement. “TTV Capital is thrilled to provide continued investment to help the company empower more parents.”
Last September Greenlight also closed a Series B round of $54 million from Drive Capital, with participation from JPMorgan Chase, Wells Fargo, TTV Capital, Live Oak Bank and Relay Ventures.