Teen banking app Step reaches for the stars to raise $50 million
By Anna Irrera
LONDON (Reuters) – Teen banking app Step has raised $50 million (37.4 million kilos) from patrons led by Coatue Management alongside celebrities comparable to singer Justin Timberlake, influencer Charli D’Amelio and former quarterback Eli Manning.
Step, which supplies children a checking account linked to a secured spending card and peer-to-peer funds, moreover talked about it had secured funding from current backers along with Stripe, Will Smith’s Dreamers VC, CrossLink Capital and Collaborative Fund.
San Francisco-based Step permits mom and father to view balances and real-time train, add money to their youngsters’ accounts and deal with and freeze enjoying playing cards. It would not value prices nevertheless makes money from card interchange.
Other stars involved in the fundraising included The Chainsmokers, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala, Step talked about in an announcement on Wednesday.
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