Venture capital’s wild fintech party is now inviting minors, too.
Greenlight, a startup that offers debit cards and investing for kids, has raised a $260 million Series D at a valuation of $2.3 billion, nearly doubling the unicorn valuation it received in a $215 million fundraise just last September. Andreessen Horowitz led the latest round, which closed last week, joining investors including TTV Capital and Canapi Ventures (which co-led Greenlight’s Series C), Wells Fargo Strategic Capital, Fin VC, Owl Ventures and Liontree Partners.
CEO Tim Sheehan says the money will go to accelerating marketing to parents and to hiring 300 more employees to build out new features for the app, which tripled revenue and customers last year. “It’s been a whirlwind. I'm kind of blown away by it all, to be honest,” says Sheehan, 51. “It feels like 10 years, but it's been just four.”