Greenlight Financial Technology adds Alex Baker to its Board along with raising $7.5m funding led by Relay Ventures

– USA, GA – Greenlight Financial Technology, Inc., creator of Greenlight: the smart debit card for kids, today announced $7.5 million in seed financing. The funding round was led by Relay Ventures with participation from Social Capital, New Enterprise Associates (NEA) and TTV Capital. Greenlight also announced that the company has added its 10,000th paying customer following its January 2017 launch and is on track to process over 1,000,000 transactions this year.

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. Greenlight is also expanding its team and hiring for several positions in engineering, marketing and customer service.

“Greenlight’s vision is to improve financial literacy for kids through a modern, smart, and easy-to-use debit card solution supported by a mobile app that features an exclusive set of parental controls,” said Alex Baker, Partner at Relay Ventures and new member of Greenlight’s Board of Directors. “Greenlight is helping parents raise financially smart kids, and has already seen significant traction in the market. This is an important investment in financial literacy for the next generation.”

“Greenlight is a true innovator within the Fintech space,” said Vanessa Larco, Partner at NEA. “Its intelligent debit card for kids is a unique solution — the only card with store-level controls that has the potential to make a valuable impact within the family finance market.”

“Greenlight’s vision has won the interest of a number of key partners who understand the value of their family-friendly approach,” said Tom Smith, partner at TTV Capital. “The company has significant growth potential, and they are a welcome addition to our portfolio.”

About Greenlight Financial Technology, Inc.

Founded in 2014, Greenlight Financial Technology, Inc. is a Fintech company that’s committed to helping parents raise financially smart kids. Its groundbreaking first personal finance product, Greenlight®, is the world’s first debit card for kids with patent-pending technology that lets parents pick the exact stores where their children can spend. The Greenlight Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by MasterCard International. Coming out of Georgia Tech’s incubator, Advanced Technology Development Center, the company is headquartered in Atlanta, GA and backed by leading investors, including Relay Ventures, Social Capital, NEA, TTV Capital, Boom Ventures and Tech Square Labs.

For more information : http://www.greenlightcard.com

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