subscription - based start - up Greenlight has raised $ 54 m in a series of funding round led by Drive Capital for its children 's debit program , designed to teach financial literacy . The firm offers children as young as 13 a preloaded Mastercard from Community Federal savings Bank and a companion smartphone app , which allows users to track spending and set savings goals . The aim is to teach children about spending and financial independence . An Ameriprise Financial survey found 93 % of teen - age parents have provided financial support to their children , while over 50 % have allowed their younger children to move back home rent - free .
Atlanta-based start-up Greenlight has raised $54m in a series B funding round led by Drive Capital for its children's debit card, designed to teach financial literacy. The firm offers children as young as 13 a preloaded Mastercard from Community Federal Savings Bank and a companion smartphone app, which allows users to track spending and set savings goals. The aim is to teach kids about spending and financial independence. An Ameriprise Financial survey found 93% of retirement-age parents have provided financial support to adult children, while over 50% have allowed their adult children to move back home rent-free.