Greenlight announces Series C fundraising to help millions more parents raise financially-smart kids

With more than 2 million parents and kids by our side, today we announced our Series C fundraise and a shiny new valuation.

We’re grateful for the families and investors who have helped us reach this point, and we’re beyond excited to continue to grow. Full press release is below.

Greenlight Raises $215 Million at a $1.2 Billion Valuation To Help Millions More Parents Raise Financially-Smart Kids

ATLANTA, (September 24, 2020) – Greenlight® Financial Technology, Inc. (“Greenlight”), the fintech company on a mission to help parents raise financially-smart kids, announced today a valuation above $1.2 billion after raising $215 million in Series C funding. The series 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 launching its debit card for kids in 2017, Greenlight has experienced explosive growth. The company now serves more than 2 million parents and kids, helping them manage their family finances and navigate the world of money together. To-date, Greenlight kids have collectively saved more than $50 million.

“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. “TTV Capital is thrilled to provide continued investment to help the company empower more parents.”

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

“Greenlight’s purpose-based mission of bringing financial literacy to families is massively impactful.” said Neil Underwood, partner and co-founder of Canapi Ventures, “We’re super excited to back this amazing leadership team who is introducing financial services to an entirely new demographic.”

“Greenlight’s smart debit card is transforming the way parents teach their kids about responsible money management and financial literacy,” said Noah Knauf, general partner at BOND. “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.”

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. In the coming months, Greenlight families can look forward to a completely reimagined app and new investing tools made for kids.

“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,” said Johnson Cook, President and Co-Founder of Greenlight. 

“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.” said Tim Sheehan, CEO and Co-Founder of Greenlight.

For more information on Greenlight, please visit greenlightcard.com, or follow Greenlight on Facebook and Instagram.

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About Greenlight:

Founded in 2014, Greenlight Financial Technology is an Atlanta-based fintech company that’s committed to empowering parents to raise financially-smart kids. Its groundbreaking family finance product, Greenlight®, is a debit card for kids that parents 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 Greenlight Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. For more information, please visit: www.greenlightcard.com

This Greenlight teen used his savings to publish a book series about overcoming your fears

Writers move and shape our world, and we know a Greenlight teen who is making a big impact with his wordsmithing wisdom. Stephen M. is a 13-year-old who wrote a book, runs a side hustle and is saving his money to publish an entire series. Writers and dreamers — this one’s for you!

Meet Stephen 

Stephen is a writer, artist, musician, athlete and entrepreneur. WOW! He’s been playing baseball since he was little, coached by a special someone — his dad. Recently, he moved all the way from Florida to Alaska. (Talk about a big move!) And at 13 years old, he decided to publish a book.

Ever since he could talk, Stephen has had a stutter. While 5-10% of children have a stutter at some point, about 3 out of 4 children outgrow it. Stephen did not outgrow his stutter, but he did outgrow his fears. So, he turned to his pen and paper to weave together a story made to inspire and educate the world on speech fluency disorders and disabilities.

How Stephen got started

Growing up, Stephen faced challenges with his stutter. He took the time to learn about it and he discovered that our differences are what make us unique and special.

In true writer fashion, he channeled his thoughts and feelings into a story and named the book Stutter-fly. Stutter-fly follows the story of a butterfly named Jimmy, who goes on a journey to learn how to overcome his stutter. What he ends up learning is so much bigger: He learns to love himself for who he is.

When he finished his story, he had one last step before publishing it. He needed an illustrator to bring his words to life with beautiful imagery. Here’s where Stephen’s entrepreneurial spirit comes in handy. He pulled together his resources, whipped out his business brain and started selling water bottles and candy to pay for a professional illustrator. 

He set a savings goal of $2,000 in his Greenlight app and picked up weekly chores to earn an allowance on his Greenlight card. After reaching his goal and picking an illustrator, Stutter-fly was born. 

Just like Jimmy the Stutter-fly learned (you’ll have to read the whole story!), Stephen has learned an important lesson about being nice to others. He plans to publish a book series to inspire readers of all ages to appreciate our differences as part of our stories.

To put action behind his words, Stephen saves 10% of his earnings for a non-profit organization he’s planning to start for young Black authors aged 5 to 17. No matter how old you are or what you do, there’s always a chance to do good with your money. 

What’s next?

Writer’s block isn’t hitting Stephen anytime soon. He’s already brewing ideas for the next book in his series. That’s right — series. He’s got big plans, with a goal of $8,000 to help him live out his dreams and bring his words to the world. 

In honor of International Stuttering Awareness Day, we hope Stephen’s story can inspire you and your family. To learn about International Stuttering Awareness Day, read more on Stephen’s website or order his book, Stutter-fly, on Amazon.

5 ways to use your kids’ debit card to talk about holiday spending

As we come up on March 95th (er, autumn), it’s safe to say we could all use a little joy around here. The holidays are around the corner, which might mean gifts, homemade meals, decorations up the wazoo and of course… holiday spending. Grab your kids’ debit cards and open your Greenlight app for ways to budget for the season. 

Create a fall budgeting bucket list 

Illustration of fall leaves and rake

You’ve probably seen the fall bucket lists that are all over Pinterest right now. Your kids can make one too! With your budgeting bucket list, talk about saving, setting spending limits and picking up extra work to bump up the budget. Here’s a list for your kids to get started: 

  • Pick three outdoor chores to add to your rotation as the temperatures drop. Every two weeks of allowance (it’s automated!), put a % in your holiday gift funds.
  • Spend on one fun fall activity. Take a picture and pat yourself on the back because you budgeted for it. 
  • Set a new savings goal every month for the rest of the year. Have some fun with it! 
  • Have a practice negotiation exercise with a scarecrow or a pumpkin. Remember: negotiating your allowance impacts your budget! Make it fun with an autumn-themed negotiation subject. 

Let them spend

Probably not the advice you were expecting, right? Well, if you haven’t heard it enough from us… kids learn by doing. They learn what it means to spend money when they actually do it. 

Let’s face it — they’re going to spend money at some point. And if you want a nice gift over the holidays (wink, wink), it’s better to be there with them for their first big purchase so you can point out ways to save up for the next one. Go online shopping together and let them pay for a holiday item of their choice (like decorations for their room or a holiday gift) using their Greenlight card.

Look for sales together

Jack-o-lantern saying "Deal or no deal?"

You know what’s better than scoring a sale? Finding a sale with your child. It’s the parent jackpot because 1) You’re both saving money and 2) You’re laying the foundation for your kids to always look for sales. 

From early bird October deals to Black Friday, you have lots of opportunities to teach your kids the value of a good bargain. When Cyber Monday rolls around, take a moment to talk about online safety. And when we get to December (finally!), show your kids how to use their Greenlight app to create different buckets for their holiday spending. P.S., if it gets too out of hand, set spending limits in your companion app.

Make a gift list

One of the greatest joys of the holiday season is giving. Instill this habit in your kids by sitting down and drafting a gift list with them. From Uncle Jim’s chocolate-covered pretzels to gag gifts for the siblings, this exercise will get your kids ahead of the game on their shopping lists — with an estimated cost for each gift. 

Aside from holiday gifts, kids can also celebrate generosity by giving back to the community. This year, volunteering might be tough (unless you’re volunteering virtually), so a nice alternative way to give is by donating to charitable organizations.

 Remember what matters

It’s easy for shoppers of all ages to get caught up in the holiday spending chaos. With COVID-19, budgets may be tighter and celebrations may be different. Come back to what matters most: your family. 

While this may not be a “money talk,” it’s a great real-life talk. Let your kids ask their questions or express their opinions about this holiday season. We’re all doing the best we can, so if you need a friend, coupon expert or budgeting tool, you can always lean on Greenlight.