Greenlight CEO Tim Sheehan on how the company's 'smart' debit card helps teach children about finances.
When the children buy something, Ms. Ibbetson gets an alert about how much was spent and where. (They still use cash occasionally.) “The parent ultimately has total control,” she said. Parents can divide money into a “spend anywhere” account, or designate funds that can be spent only at certain stores.
You can teach your kids lessons, strategies and instill morals within them to help them towards making the best decisions possible when it comes to major life choices and areas — one of the biggest of these being personal finance.
CB Insights unveiled the second annual Fintech 250 — a list of 250 of the top fintech startups applying a mix of software and technology to transform the financial services industry.
In addition to learning to spend wisely, Greenlight kids have saved over $2 million. After listening to the feedback from their loyal customers, Greenlight has created new savings and spending features, as well as a refreshed user experience in 2.0.
Greenlight also allows parents to supervise spending by choosing the type of stores or restaurants where children can shop. Money on the card is put into two categories: for spending anywhere, or for only preapproved stores and websites. If the child tries to buy something at a nonapproved store — or tries to spend more money than is available on the card — the purchase is declined.
The Greenlight Debit Card for Kids helps parents introduce their children to modern payment methods with a card that pairs with a mobile application, allowing parents to automatically disburse allowance, and monitor and approve spending.
The smart debit card for kids sees extraordinary customer growth, establishes strategic partnerships, and launches a new Educational Savings Account for Kids.
What sets Greenlight apart from most other debit cards are the parental controls. Using the free Greenlight app, parents can divide their kid's money into two categories. The first category enables your child to use the card anywhere. The second category is restricted to specific retailers (e.g., Starbucks) or specific types of retailers (e.g., restaurants). If a child tries to spend money at a store the parent hasn't approved, the transaction will be declined unless the child has sufficient funds in his or her spend anywhere category.
Greenlight Financial Technology now lets parents set savings interest between zero and 100 percent on their kids’ accounts to show them the value of savings and how it compounds over time.
Tim Sheehan, the Founder, and CEO of Greenlight is on to something big. And none of it happened by accident. Strong experience, mixed with a real-world challenge, combined with a focused management strategy for scale is how it happened.
Greenlight's Mission to Drive Financial Literacy for Kids Strengthened Through Partnerships with SunTrust Bank, Ally Financial, nbkc bank, Canapi, and Amazon Alexa Fund
So, what happens when Amazon, two big banks and a fintech step into an investment deal?
Greenlight Financial Technology, a fintech startup for kids, has raised $16 million in a Series A funding round today.
Greenlight Financial Technology Inc, a producer of a smart debit card for kids, teens, and college students, has raised $16 million in Series A financing. TTV Capital led the round with participation from New Enterprise Associates Inc, Relay Ventures, SunTrust Bank, Ally Financial, nbkc bank, Canapi and the Amazon Alexa Fund.
Greenlight Financial Technology, which has developed an intelligent debit card for children, has scored $16 million from Amazon Alexa Fund, TTV Capital, Ally Financial and other investors.
Some say automating kids’ transactions isn’t the best way to teach financial literacy.
Continuing to accelerate its momentum and growth, Greenlight Financial Technology, Inc., today announced the success of its smart debit card for kids by reaching a customer growth milestone of 25,000 customers.
Greenlight, a fintech cardmaker for kids, built an app that lets parents instantly put funds on prepaid debit cards that their kids can only use at specific stores predetermined by the parents.
Tips & Tools to Teach your Kids about Money Management [Video]
Sending your kids off with a pocket full of cash can seem a little daunting and it’s impossible to know whether your littles are using the money responsibly – until now.
Teaching kids about debit and credit is one lesson every parent needs to address. After all, if you don’t teach them – who will? I found the safest way to do this to protect both you and your child.
As entrepreneurs continue to focus on creating innovative financial technology products, often while using new technologies to improve and build upon previous systems and processes, innovators have begun to identify solutions that not only feed the appetite for FinTech but also help to bridge the financial literacy gap.
Count Tim Sheehan among the many entrepreneurs who took a personal experience and combined it with business acumen to create an exciting new product certain to attract parents across the country.
Companies like Greenlight have released reloadable cards that can be used like debit cards — but only for stores preapproved by the card’s primary account holder.
More Innovation to Come Under Leadership of Greenlight's New CTO Nancy Cox, Fintech Industry Veteran
Greenlight Financial Technology, a startup focused on providing cards and other financial products for children aged 8-18 and their parents, closed a $7.5 million seed funding round last week, according to PE Hub.
Creator of Greenlight: the smart debit card for kids, today announced $7.5 million in seed financing.
Greenlight, the startup that provides a debit card for children in which funds can be reloaded from a mobile app and places restrictions on the merchants at which children can make purchases, has raised $7.5 million in funding.
For parents today, a company called Greenlight is offering a smart debit card that can be given to their kids, instantly reloaded with funds from a mobile app, and place restrictions around merchants their children can make purchases...
Greenlight Financial Technology, an ATDC company, raised the seed funding from Relay Ventures, Social Capital, New Enterprise Associates (NEA) and Atlanta’s TTV Capital. The investment values the ATDC company at about $20 million
Greenlight Financial Technology, an Atlanta-based creator of a smart debit card for kids, raised $7.5 million in seed funding. Relay Ventures led the round, and was joined by Social Capital, New Enterprise Associates, and TTV Capital.
Relay Ventures has led the round for Greenlight Financial Technology, the provider of a smart debit card for kids. The startup’s technology allows parents to manage their children's spending via smartphone.
They have developed a debit card that parents can get for their kids to use. Through the Greenlight app, a child can be in a store and ask their parents if they can spend some money. At that point, parents can instantly “unlock” funds for their kids to spend. Remember, this is not a credit card, so kids are only able to spend the budget made available to them by their parents
Greenlight, a three-year-old, Atlanta, Ga. based startup, is trying to solve a problem that any parent of an elementary or junior high school student can well understand: how to give kids money without worrying that they’ll lose it or spend it on something they shouldn’t