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 one 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.
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.