Greenlight Revenue, Valuation, Funding & Investors

Greenlight is valued at $2.3B as of April 2021, a 23.0x multiple on its last reported $100M revenue.

Last Greenlight valuation

$2.3B

Series D · Apr 2021

Last Greenlight funding round

$260M

Series D · Apr 2021

Greenlight revenue

$100M

Series D · Apr 2021

Key investors in Greenlight

  • TTV Capital
  • Relay Ventures
  • Goodwater Capital
  • Fin Capital
  • Bond
  • Canapi Ventures

Greenlight Overview

About Greenlight

Greenlight is a financial technology company offering a debit card and app for family money management. The platform enables parents to set spending limits, assign chores with automated allowances, and facilitate investments in stocks and ETFs for children. Headquartered in Atlanta, Georgia, and launched in 2014, Greenlight partners with Visa for its Level 1 debit cards and provides cash back rewards up to 3 percent on purchases. The service covers earning, saving, spending, gifting, and investing features tailored for parents and kids across the United States.


Founded

2014

HQ

United StatesAtlanta, GA

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Revenue

$100M (Apr 2021)

Valuation

$2.3B (Apr 2021)

Greenlight Valuation

Greenlight is currently valued at $2.3B, based on its Series D in April 2021.

The $260M round was led by Andreessen Horowitz, with participation from TTV Capital, Wellington Management, Wells Fargo Strategic Capital, Canapi Ventures, Ethos VC and 5 other investors.

Greenlight's valuation has grown 1.9x from $1.2B at its Series C in September 2020 to $2.3B in April 2021, across 2 priced rounds.

Greenlight valuation by funding round

Revenue multiple
Greenlight valuation by funding round
DateStageValuationRevenue Multiple
Apr 2021Series D$2.3B23.0x
Sep 2020Series C$1.2B12.0x

Greenlight Revenue

Greenlight's latest recorded revenue is $100M, as of its Series D in April 2021. At a $2.3B valuation, that implies a 23.0x revenue multiple.

Revenue moved from $100M in September 2020 to $100M in April 2021, while the revenue multiple moved from 12.0x to 23.0x.

Greenlight revenue by funding round

Greenlight revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Apr 2021$100M$2.3B23.0xSeries D
Sep 2020$100M$1.2B12.0xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Greenlight Funding History

Greenlight has raised a total of $557M across 6 funding rounds.

Greenlight's first fundraising round was a $8M seed round in June 2017. The most recent completed round was a $260M Series D in April 2021.

Greenlight funding rounds

Greenlight funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2021Series DAndreessen Horowitz (lead); TTV Capital; Wellington Management; Wells Fargo Strategic Capital; Canapi Ventures; Ethos VC; Owl Ventures; Fin Capital; Goodwater Capital; LionTree; Bond$260M$2.3BGreenlight is a fintech company offering a banking app and debit card for kids, featuring financial literacy tools, investment options, and parental controls. It generates revenue primarily through tiered subscription plans such as Core ($5.99/month), Max ($10.98/month), Infinity ($15.98/month), and Family Shield ($24.98/month), alongside B2B offerings like Greenlight for Banks and safety device subscriptions. In April 2021, Greenlight raised $260 million in a Series D funding round led by Andreessen Horowitz, achieving a $2.3 billion valuation. Key investors included TTV Capital and Canapi Ventures, with total funding reaching approximately $556.5 million across rounds since 2014. The round matched the specified investors like Bond, Ethos VC, Fin Capital, Goodwater Capital, LionTree, Owl Ventures, Wellington Management, and Wells Fargo Strategic Capital. Greenlight has grown to serve over 6.5 million parents and children by May 2025, with 75 institutional partnerships including JPMorgan Chase and U.S. Bank. It pivoted to embedded financial services, positioning as a complementary solution in the fintech ecosystem rather than a competitor. The company maintained unicorn status into 2024 with ongoing VC support.
Sep 2020Series CCanapi Ventures (lead); TTV Capital (lead); Relay Ventures; Fin Capital; Goodwater Capital; DST Global; Bond$215M$1.2BGreenlight Financial Technology, Inc. is a U.S.-based fintech company offering a smart debit card and mobile app designed for kids, teens, and college students, enabling parents to manage family finances with controls on spending, chores, allowances, savings goals, and approved stores while teaching children about earning, spending, saving, and giving. On September 24, 2020, Greenlight raised $215 million in its Series C funding round, achieving a post-money valuation above $1.2 billion. The round was led by Canapi Ventures and TTV Capital, with participation from new investors BOND, DST Global, Goodwater Capital, Fin VC, and existing investor Relay Ventures. This brought total funding to approximately $297 million since its founding in 2014, following a $54 million Series B in 2019 led by Drive Capital. At the time of the Series C, Greenlight served more than 2 million parents and kids, with users having saved over $50 million through the platform. The company planned to use the funds to accelerate growth, reach more families, launch a reimagined app, and introduce new investing tools for kids in the coming months. Investors highlighted Greenlight's rapid growth, product-market fit in family finances, and potential to become a household name in financial literacy for children. Founding partners from TTV Capital and Canapi Ventures noted personal use of the product and its resonance with families navigating youth finances digitally. Greenlight positioned itself as an early leader in the nascent family finance space, overcoming regulatory hurdles for child-focused banking and building capabilities like spend controls and instant transfers to create a competitive moat.
Sep 2019Series BDrive Capital (lead); TTV Capital; Relay Ventures; JPMorgan Chase; Live Oak Bank; Wells Fargo$54M-Greenlight Financial Technology, Inc. is a fintech company founded in 2014 that provides a debit card and mobile app for children, enabling parents to manage their kids' spending, set savings goals, monitor transactions, and teach financial literacy. The app offers parental controls over spending categories, purchase approvals, and alerts, with features to load money and prevent overspending. By September 2019, Greenlight had approximately half a million parents and kids signed up. On September 16, 2019, Greenlight raised $54 million in a Series B funding round led by Drive Capital, with participation from new investors JPMorgan Chase and Wells Fargo, as well as existing investors TTV Capital, Live Oak Bank, and Relay Ventures. The funds were intended to accelerate product development, including adding more educational features to the app and introducing investing capabilities to help kids build long-term wealth. Drive Capital partner Chris Olsen joined the board, praising Greenlight's platform for empowering financial success. CEO Tim Sheehan emphasized partnering with these investors to expand to millions more families and prepare children for sound financial habits like wise spending, saving, and investing. This round brought Greenlight's total funding above $75 million at the time, following prior rounds including a $16 million Series A led by TTV Capital in 2018 and earlier investments. Greenlight continued raising capital in subsequent rounds, achieving a $1.2 billion valuation in a $215 million Series C in 2020 led by Canapi Ventures and TTV Capital, with participation from DST Global, Goodwater Capital, and others including Relay Ventures. A later Series D in 2021 reached $2.3 billion valuation. The company grew to over 2 million users by 2020, with users collectively saving more than $50 million.
Jul 2018Series A-$4M-Greenlight Financial Technology raised approximately $9.34 million in a Series A round on February 20, 2018, followed by an additional $2.41 million Series A on June 27, 2018. Earlier, the company completed seed rounds including $4.77 million and $2.63 million on May 23, 2017, and $6 million on December 5, 2017. A later Series B round of $41.49 million occurred on August 1, 2019.
Dec 2017Series A-$16M-Greenlight, a fintech company providing debit cards and apps for parents to teach kids financial literacy, raised $16M in a Series A round in December 2017 to expand the team and accelerate product development. A prior seed round of $7.5M occurred in June 2017 led by Relay Ventures. The company launched its debit card for kids in 2017.
Jun 2017SeedRelay Ventures (lead); TTV Capital; New Enterprise Associates; Social Capital$8M-Greenlight Financial Technology is an Atlanta-based fintech company offering a smart debit card for kids with parental controls, enabling families to manage allowances, set spending limits at specific stores, and receive transaction alerts via a mobile app. The company launched in January 2017 and reached 10,000 paying customers within its first five months. It raised $7.5 million in a seed round announced on June 2, 2017, led by Relay Ventures with participation from Social Capital, New Enterprise Associates, and TTV Capital. Relay Ventures partner Alex Baker joined the board following the investment. Greenlight planned to use the funds to accelerate growth, expand its team in engineering, marketing, and customer service, and process over 1,000,000 transactions that year.

Who has invested in Greenlight?

19 investors have backed Greenlight across its funding rounds, including TTV Capital, Relay Ventures, Goodwater Capital, Fin Capital, Bond and Canapi Ventures.

Lead investors include Andreessen Horowitz, Canapi Ventures, TTV Capital, Drive Capital and Relay Ventures.


Greenlight Investors

Investors in Greenlight by funding rounds participated
InvestorHQRoundsRoleFirst check
TTV CapitalUnited StatesAtlanta, GA4LeadJun 2017
Relay VenturesCanadaToronto3LeadJun 2017
Canapi VenturesUnited StatesWilmington, DE2LeadSep 2020
Fin CapitalUnited StatesSan Francisco, CA2ParticipantSep 2020
Goodwater CapitalUnited StatesSan Francisco, CA2ParticipantSep 2020
BondUnited StatesSan Francisco, CA2ParticipantSep 2020
Wellington ManagementUnited StatesBoston, MA1ParticipantApr 2021
New Enterprise AssociatesUnited StatesSan Francisco, CA1ParticipantJun 2017
Wells Fargo Strategic CapitalUnited StatesSan Francisco, CA1ParticipantApr 2021
Ethos VCUnited StatesSan Francisco, CA1ParticipantApr 2021
Owl VenturesUnited StatesSan Francisco, CA1ParticipantApr 2021
Social CapitalUnited StatesSan Francisco, CA1ParticipantJun 2017
Andreessen HorowitzUnited StatesSan Francisco, CA1LeadApr 2021

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Greenlight Competitors

Greenlight competitors include listed companies like Klarna and Green Dot, and private ones like CloudWalk, Varo Bank, Wave Mobile Money and Ualá.

Public and private companies comparable to Greenlight
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CloudWalkBrazilSão PauloPrivate--$2.1B-
Varo BankUnited StatesSan Francisco, CAPrivate$179M-$2.5B14.0x
Wave Mobile MoneySenegalDakarPrivate--$1.7B-
UaláArgentinaBuenos AiresPrivate$186M$41M$3.2B17.2x
KlarnaSwedenSwedenPublicly listed$3.5B$551M$5.3B1.3x
Green DotUnited StatesUnited StatesPublicly listed$2.1B($12M)$751M0.3x

Greenlight Public Comps

Greenlight is still privately-owned, but its public comps include CreditAccess Grameen, Banco Inter, Upstart, Shawbrook Group, San-in Godo Bank, Capri Global Capital, Zip, EZCORP, Stanbic IBTC Holdings and Krungthai Card.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CreditAccess Grameen$608M$122M7.4x7.6x36.9x-
Banco Inter$1.6B-1.5x1.2x--
Upstart$1B$230M3.9x3.0x17.4x14.5x
Shawbrook Group$924M-2.3x2.2x--
San-in Godo Bank$787M-3.2x2.4x--
Capri Global Capital$491M$144M9.8x12.4x33.3x-
Zip$951M$296M3.8x3.6x12.2x18.3x
EZCORP$1.3B$188M1.9x1.5x13.0x8.9x

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Common questions about Greenlight

When was Greenlight founded?Greenlight was founded in 2014.
Where is Greenlight headquartered?Greenlight is headquartered in Atlanta, GA, United States.
Is Greenlight publicly listed?No, Greenlight is a private, VC-backed company.
What is Greenlight's valuation?Greenlight was last valued at $2.3B in its Series D in April 2021.
How much funding has Greenlight raised?Greenlight has raised $557M across 6 funding rounds.
What was Greenlight's last funding round?Greenlight's last funding round was a $260M Series D in April 2021, led by Andreessen Horowitz.
Who are Greenlight's investors?Greenlight's investors include TTV Capital, Relay Ventures, Canapi Ventures, Fin Capital, Goodwater Capital, Bond, Wellington Management, New Enterprise Associates, Wells Fargo Strategic Capital, Ethos VC and 9 others.
What is Greenlight's revenue?Greenlight's latest recorded revenue is $100M (April 2021).
What is Greenlight's revenue multiple?Greenlight's latest valuation implies a 23.0x revenue multiple ($2.3B valuation on $100M of revenue).
Which companies are comparable to Greenlight?Companies comparable to Greenlight include CloudWalk, Varo Bank, Wave Mobile Money, Ualá, Klarna and Green Dot.

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