The investment comes just over seven months after the startup revealed it had raised $9 million in a seed round, and included participation from Panoramic Ventures, Insight Partners, Invesco Private Capital and “all existing investors,” according to the company. While the company would not reveal its valuation or hard revenue figures, it did say that its revenue growth is in line with its user growth, which — as noted above — has more than doubled since October 2021. Parents use Copper to send money to teens and monitor their teens’ spending, the company touts. The startup aims to give its customers the ability to direct funds from their accounts into a “wide range” of investments — from stocks to mutual funds to cryptocurrency. Investing through Copper, the company claims, gives teens a supervised setting where they “can learn as they invest, and where parents can see where every dollar is going.” The company plans to launch the new product, Step Investing, sometime early this summer.As Anita Ramaswamy previously reported, investing app Onu launched custodial accounts for children with access to 22 cryptocurrencies last month, and children’s social network Zigazoo started dropping NFTs in April. And earlier this year, Acorns CEO Noah Kerner told TechCrunch that the youth-focused savings and investing startup plans to include “no more than 5% exposure” to crypto as an option for customers who would like to participate, according to Kerner, who emphasized there “will not be crypto trading on the Acorns platform.” Copper Banking adds $9M in funding as digital banks clamor for teen customers The startup had been working with that agency since its inception, which gave Fiat insight into its growth.“They were able to see our growth metrics from the inside and very quickly put together a term sheet when we weren’t actively raising,” Behringer told TechCrunch. “Their unique model allowed them to preempt our funding plans.” Copper is among several teen-focused fintechs that have recently expanded their offerings to include a crypto component. The way Fiat Ventures learned of, and then sought to invest in, Copper was not a traditional one.