Youngsters’s monetary app Greenlight indicators subsequent app iteration with household security options • TechCrunch

Greenlight Monetary Know-how, a venture-backed fintech firm centered on offering a debit card, banking app and monetary training to kids, added one other layer to its subscription plan with the introduction of household security options.

Greenlight Infinity, priced at $14.98 per thirty days for the entire household, contains location sharing to see the place anybody within the household is and do check-ins; SOS alerts to emergency contacts and/or 911 with one faucet; and crash detection with automated 911 dispatch whereby if a crash is detected whereas driving, driver and journey info is offered to emergency companies.

Tim Sheehan, co-founder and CEO of Greenlight, defined that the motive force for the brand new options aimed toward security was merely, “it’s essential to know the place your youngsters are and wish to preserve them secure.”

“I like the way in which we carried out the SOS alerts the place you possibly can select to inform your loved ones or the emergency companies,” he added. “And when you click on the SOS button and don’t select whether or not to inform household or emergency companies, they’ll simply notify each by default. It’s so in case you are in a very harmful scenario and may’t make that second choice.”

Together with that’s the Greenlight Financial savings Reward, the place teenagers can earn 5% on their financial savings.

Final 12 months, the Atlanta-based firm served greater than 3 million mother and father and children, and that has now elevated to greater than 5 million, in line with the corporate.

It has additionally raised about $556.5 million in complete funding since Greenlight was based in 2014, in line with Crunchbase knowledge. This features a $260 million Collection D spherical in 2021 that doubled the corporate’s valuation to $2.3 billion.

Greenlight is just not alone in turning enterprise capital heads towards the monetary literacy for kids and oldsters area. For instance, final 12 months, teen digital banking service Step raised $200 million in a Collection C spherical and this week borrowed $300 million in debt financing to launch a crypto investing characteristic. Equally final month, Stack raised $2.7 million for its cryptocurrency training and buying and selling app.