Step Secures An Additional $300,000,000 To Accelerate Growth, Launches Crypto Investing And A National Financial Literacy Curriculum

Oct 11, 2022•over 2 years ago

Amount Raised

$300 Million

Palo AltoBankingFintechFinanceFinancial Services

Description

Step, the all-in-one financial solution for the next generation, announced up to $300 million in debt funding led by Triplepoint Capital and Evolve Bank & Trust. The new funding brings the total capital raised by Step to $500M.

Company Information

Company

Step

Location

Palo Alto, California, United States

About

Step was founded by financial industry veterans CJ MacDonald and Alexey Kalinichenko to provide teens, their families and young adults with financial tools for today’s modern-day banking needs and to promote financial literacy for the future. The founding team has 50+ years of combined financial technology experience from companies like Affirm, Block, Google, Gyft, Stripe, and Wealthfront. The Series C company has more than 3 million customer accounts and has raised more than $500 million in venture and debt funding, backed by Coatue, Crosslink Capital, General Catalyst, Stripe and several other prominent investors. Evolve Bank & Trust, Member FDIC provides Step’s banking services and issues the Step Visa Card pursuant to a license from Visa U.S.A. Inc. Cryptocurrency transaction and custody services powered by Zero Hash LLC and Zero Hash Liquidity Services LLC. Cryptocurrency services may not currently be available in all states, including in NY or to NY residents. To learn more, please visit: www.step.com or contact press@step.com.

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Medium Activity

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