Greenlight is ideal for savvy parents of kids aged 8 to 18 who want to empower them to make smart decisions with money while keeping them safe and protected. For example, a parent can pick the exact stores where their kids can spend, freeze the card if lost or stolen, receive instant spending alerts and automate allowances. It enables parents to manage their kid’s spending from their smartphone. The Greenlight card is the smart debit card for kids that is safer than cash. “The company has significant growth potential, and they are a welcome addition to our portfolio.” “Greenlight’s vision has won the interest of a number of key partners who understand the value of their family-friendly approach,” said Tom Smith, partner at TTV Capital. “Its intelligent debit card for kids is a unique solution - the only card with store-level controls that has the potential to make a valuable impact within the family finance market.” “Greenlight is a true innovator within the Fintech space,” said Vanessa Larco, Partner at NEA. This is an important investment in financial literacy for the next generation.” “Greenlight is helping parents raise financially smart kids, and has already seen significant traction in the market. “Greenlight’s vision is to improve financial literacy for kids through a modern, smart, and easy-to-use debit card solution supported by a mobile app that features an exclusive set of parental controls,” said Alex Baker, Partner at Relay Ventures and new member of Greenlight’s Board of Directors. Greenlight is also expanding its team and hiring for several positions in engineering, marketing and customer service. Greenlight plans to use this injection of funding to accelerate its growth and fulfill its mission of delivering safe, simple, and family-friendly financial products worldwide. Greenlight also announced that the company has added its 10,000th paying customer following its January 2017 launch and is on track to process over 1,000,000 transactions this year. The funding round was led by Relay Ventures with participation from Social Capital, New Enterprise Associates ( NEA) and TTV Capital. Greenlight Financial Technology, Inc., creator of Greenlight: the smart debit card for kids, today announced $7.5 million in seed financing.
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