The Atlanta-based fintech that offers debit cards for kids is raising a funding round led by Andreessen Horowitz, according to The Information. The firm closed a US$215-million round in September 2020 that valued it at US$1.2 billion. (The Information)
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The Atlanta-based fintech that offers debit cards for kids is raising a funding round led by Andreessen Horowitz, according to The Information. The firm closed a US$215-million round in September 2020 that valued it at US$1.2 billion. (The Information)
Talking point: Toronto-based Relay led Greenlight’s US$7.5-million seed round in 2017, becoming its first institutional investor. The VC firm (which is also an investor in The Logic) participated in the company’s subsequent three funding rounds and, at the time, was one of Greenlight’s largest shareholders. Relay did not respond to The Logic by publication time on whether it’s investing in the latest round or remains one of the firm’s largest shareholders. Greenlight’s soaring valuation comes amid a growing financial-services market for kids and teens. Rival firms Current and Step are also raising money that’s expected to land them valuations of US$2 billion and US$1 billion, respectively.
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