Greenlight launched debit cards for kids in 2017 and provides apps that let parents deposit money, pay allowance, manage chores, and set flexible spending controls for children. The company recently introduced Greenlight Max, an educational investing platform that lets kids research stocks with Morningstar analysis and make real investments with parent approval. Since inception, Greenlight says it has set up accounts for more than 3 million parents and children, who have saved over $120 million through the app. The startup reports it has more than tripled year‑over‑year revenue, more than doubled its user base, and doubled the size of its team in the past year. Greenlight currently has 275 employees and plans to hire about 300 more over the next two years, with an emphasis on engineers. The company plans to use new capital to accelerate product development, add more financial services, and invest in strategic distribution partnerships and geographic expansion. Greenlight provides a money-management platform purpose-built for families, centered on a parent-managed debit card for kids and companion apps that let parents pay allowance, manage chores and set store-level spend controls. Patent-pending technology allows parents to choose exact stores where children can spend, set parent-paid interest rates on savings and monitor chores and allowances. The product is designed to teach kids real-world financial decision-making while giving parents flexible controls. The Greenlight Card is issued by Community Federal Savings Bank, member FDIC, under license from Mastercard. Founded in 2014 by Johnson Cook and Tim Sheehan and based in Atlanta, the company now serves more than 2 million parents and kids. Greenlight says it will use the new funding to expand its business reach. Greenlight provides a debit card for kids managed by parents through a mobile app with flexible parental controls, allowing store-level spending limits, chore and allowance management, and parent-paid interest on savings. Led by CEO and co-founder Tim Sheehan, the product lets children monitor balances, set saving goals, and learn real-world financial trade-offs. The Greenlight Card is issued by Community Federal Savings Bank pursuant to a MasterCard license. The company intends to use the new funding to accelerate its development roadmap. Since launching its product in 2017, Greenlight has grown rapidly and now helps more than half-a-million parents and kids manage daily family finances. Greenlight Financial Technology offers Greenlight, a debit card for kids with patent-pending technology that enables parents to choose the exact stores where their children can spend. The Greenlight Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. Founded in 2014 and led by CEO Tim Sheehan, the company is headquartered at Georgia Tech’s Advanced Technology Development Center in Atlanta, GA. In February 2018 the company raised $16M in Series A financing led by TTV Capital. The round included participation from existing investors New Enterprise Associates and Relay Ventures and new investors SunTrust Bank, Ally Financial, nbkc bank, Canapi and the Amazon Alexa Fund. Greenlight intends to use the funds to invest in new talent and continue introducing innovative financial solutions. Greenlight Financial Technology provides the Greenlight® debit card for kids, featuring patent-pending technology that allows parents to pick the exact stores where their children can spend. The card is issued by Community Federal Savings Bank pursuant to a MasterCard license. Founded in 2014 and spun out of Georgia Tech’s Advanced Technology Development Center, the company is led by CEO Tim Sheehan and is based in Atlanta, GA. Greenlight launched in January 2017 and has reached its 10,000th paying customer while projecting to process over 1,000,000 transactions in the year. The company intends to use new funding to accelerate growth and expand the team, hiring across engineering, marketing, and customer service. Current traction and the bank/MasterCard partnerships underpin its go-to-market and product credibility.

Total raised

$553M

Funding rounds

5

Latest round

Series D

Latest activity

Apr 2021