#FinancialInclusion / Greenlight raises $215m for kids’ debit card

Atlanta-based Greenlight combines a “smart” debit card with an app to help kids improve their financial literacy while giving parents controls on spending.

Parents can pay allowances, manage chores and set flexible, store-level spend controls, while kids explore lessons in earning, saving, spending and giving.

Launched in 2017, the company now serves more than two million parents and kids, who have collectively saved more than $50 million.

The new funding will be used to push this growth, with the firm gearing up to roll out a revamped app and investing tools in the next few months.