Greenlight Financial Technology announced the closing of $7.5 million in seed funding. Four investors participated in the round: Relay Ventures, Social Capital, New Enterprise Associates, and TTV Capital.
Greenlight is a debit card for kids that parents manage from their phones. With Greenlight, parents can set up automatic funding of allowances, send money instantly to their kids, approve or disapprove special purchases, and get real-time notifications about where and when their kids spend money. Using Greenlight’s patent-pending technology, parents can even specify the exact stores in their town or neighborhood where their child’s Greenlight Card can be accepted.
Greenlight plans to use this injection of funding to accelerate its growth and fulfil its mission of delivering safe, simple, and family-friendly financial products worldwide.