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Greenlight Financial Technology

Greenlight Financial Technology

Greenlight Financial Technology is an Atlanta-based company offering a debit cards for kids parents can manage by app.

OverviewStructured DataIssuesContributors

Contents

greenlightcard.com
greenlight.com
Is a
Company
Company
Organization
Organization

Company attributes

Industry
Financial technology
Financial technology
Technology
Technology
Family
Family
Finance
Finance
Neobanking
Neobanking
Location
United States
United States
Atlanta
Atlanta
CEO
Timothy Sheehan (entrepreneur)
Timothy Sheehan (entrepreneur)
Founder
Timothy Sheehan (entrepreneur)
Timothy Sheehan (entrepreneur)
0
‌
Johnson Cook (entrepreneur)
0
Pitchbook URL
pitchbook.com/profiles...156786-49
Legal Name
Greenlight Financial Technology Inc
Legal classification
Corporation
Corporation
Date Incorporated
2014
Number of Employees (Ranges)
51 – 200
Number of Employees
80
Full Address
75 5th Street Northwest Suite 2130, Atlanta, Georgia 30308
CIK Number
1,708,567
Place of Incorporation
Delaware
Delaware
Investors
Relay Ventures
Relay Ventures
TTV Capital
TTV Capital
Amazon Alexa Fund
Amazon Alexa Fund
SunTrust Bank
SunTrust Bank
Social Capital (venture capital)
Social Capital (venture capital)
Drive Capital
Drive Capital
NEA (New Enterprise Associates)
NEA (New Enterprise Associates)
Wells Fargo
Wells Fargo
...
Founded Date
January 1, 2014
Total Funding Amount (USD)
1,169,105,627
Latest Funding Round Date
2021
Competitors
Revolut
Revolut
gohenry
gohenry
EarlyBird
EarlyBird
Step (FinTech company)
Step (FinTech company)
Current (FinTech company)
Current (FinTech company)
Also Known As
Greenligh Financial
Latest Funding Type
Series D
Series D
Patents Assigned (Count)
1
Motto/Tagline
Greenlight Helps Parents Raise Financially-Smart Kids
Country
United States
United States

Other attributes

Blog
greenlight.com/blog/
Company Operating Status
Active
Latest Funding Round Amount (USD)
259,999,602

Greenlight Financial Technology makes a debit card and app for kids and parents. The Atlanta-based company was founded in 2014 by President and COO Johnson Cook and CEO Timothy Sheehan.

Products
Debit Card

They issue a MasterCard debit card from Community Federal Savings Bank and covered by their FDIC insurance.

Greenlight App

The app enables parents to manage their child's spending, by allocating specific stores or categories where kids can spend money, receiving real-time notifications when the card is used, transferring money to their child's card for allowance or incidental expenses and manage weekly or one-time rewards, such as for finishing chores.

Greenlight protects the cardholder with a parent-controlled PIN number, ATM access controls and automatically blocking wire transfers, money orders, lotteries and cash back from purchases. Through the ATM access, parents can turn on access to ATM's in case their child needs cash.

There is a companion app for the cardholder, and both parents and child can freeze the card in case its lost or stolen through the app. The companion app also allows the kids to monitor their spending, set and track savings goals, request money and receive notifications for funding or spending.

Educational savings account

Launched in 2018, the Greenlight Educational Savings Account for Kids allows parents to incentivize saving through parent-paid interest. Through the app, kids can set savings goals for specific purposes which will also earn the parent-paid interest.

Giving

Introduced in 2018, the Giving feature allows parents to add money to their kids which can only be used for charitable donations or purchases at non-profit organizations.

Funding
Seed

Announced in June 2017, Greenlight raised $7.5 million in their Seed round. Relay Ventures led the round in which Social Capital, New Enterprise Associates and TTV Capital participated. The funding came after Greenlight announced their 10,000th customer since their January 2017 launch.

Series A

In February of 2018 Greenlight raised $16 million. The round was led by TTV Capital with participation from New Enterprise Associates, Relay Ventures, SunTrust Bank, Ally Financial, nbkc bank, Canapi and the Amazon Alexa Fund.

Series B

Greenlight announced it raised %54 million in September 2019. Drive Capital led the round with participation from JPMorgan Chase, Wells Fargo, TTV Capital, Live Oak Bank and Relay Ventures.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

Greenlight - The Debit Card for Kids

https://www.youtube.com/watch?v=phx9qO_YxJQ

September 13, 2018

References

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