Greenlight, an organization that gives monetary providers know-how for youths, introduced at the moment it has landed $260 million in funding. Right now’s funding almost doubles the Georgia-based firm’s valuation, boosting it as much as $260 million.
The Collection D spherical, which brings Greenlight’s whole funding to greater than $550 million, was led by Andreessen Horowitz with participation from current traders TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND, Fin VC, Goodwater Capital. New traders Wellington Administration, Owl Ventures, and LionTree Companions additionally participated. Andreessen Horowitz Common Accomplice David George will be a part of Greenlight’s board of administrators.
As for Greenlight’s valuation, the corporate noticed a rise from $1.2 billion to $2.3 billion over the course of six months.
Greenlight will use at the moment’s funds so as to add extra providers to its platform, improve its distribution partnerships, and increase to extra geographies to in the end attain extra households. Moreover, the corporate will use the funding to extend its human assets, with a plan so as to add 300 workers over the subsequent two years.
“Our imaginative and prescient at Greenlight is to create a world the place each little one grows as much as be financially wholesome and pleased,” stated Greenlight Co-founder and CEO Tim Sheehan. “Right now’s financing will allow us to deliver much more worth to households as we proceed to introduce new progressive merchandise that shine a light-weight on the world of cash.”
Based in 2014, Greenlight affords a cash administration platform for households that helps three million dad and mom and youngsters achieve expertise to handle their earnings, financial savings, spending, giving, and be taught to speculate through a debit card, companion app, and academic assets.
Greenlight has struck a chord with its family-based funds method. Up to now yr, the corporate has greater than tripled its year-over-year income, greater than doubled its customers, and doubled its workforce. Earlier this yr, Greenlight launched a brand new merchandise, Greenlight Max, which helps children analysis and spend money on shares with parental approval.
“The demand for Greenlight’s household finance answer continues to develop,” stated Greenlight Co-founder and President Johnson Cook dinner. “With the help of our traders, we look ahead to empowering much more dad and mom to boost financially-smart children.”