Step Raises $50 Million in Series B Funding Following Massive Consumer Demand From Its Recent Launch
Step Raises $50 Million in Series B Funding Following Massive Consumer Demand From Its Recent Launch
12/02/20, 2:10 PM
Location
san franciscoMoney raised
$50 million
Round Type
series b
Step, the new modern-day financial services company built for teens and families, today announced a $50 million Series B round of funding. The round was led by Coatue, with participation from returning investors Stripe, Crosslink Capital, Collaborative Fund and Will Smith’s Dreamers VC. Step also added several new investors including Charli D’Amelio, Justin Timberlake, The Chainsmokers, Eli Manning, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala alongside prominent fintech executives from the likes of Facebook, Square, Venmo, Visa and others. To-date, Step has raised more than $75 million from investors.
Company Info
Location
san francisco, panamá province, panama
Additional Info
Step was founded by financial industry veterans CJ MacDonald and Alexey Kalinichenko to provide teens and their families with financial tools for today’s modern-day banking needs and to promote financial literacy for the future. The founding team has 50+ years in combined financial technology experience from companies like First Data, Google, Gyft and Square. Step is backed by Coatue, Collaborative Fund, Crosslink Capital, General Catalyst and Stripe. Step’s financial products are powered by its bank partner Evolve Bank & Trust, Member FDIC and insured up to $250,000. To learn more, please visit: www.step.com.