Step Raises $100 Million In Series C Funding &Amp; Surpasses 1.5 Million Users After Less Than Six Months In Market

Apr 27, 2021•over 4 years ago

Amount Raised

$100 Million

Round Type

series c

San Francisco

Description

Step, the new modern-day financial services company built for teens and families, today announced a $100 million Series C round of funding. The round was led by General Catalyst, with participation from returning investors Coatue, Stripe, Charli D’Amelio, The Chainsmokers, Will Smith and Jeffrey Katzenberg. Step also welcomed Jared Leto and Franklin Templeton to the round and formally announced NBA All-Star Stephen Curry as an investor, who has supported the company from the early days.

Company Information

Company

Step

Location

San Francisco, California, United States

About

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.

Funding Insights

Based on industry data

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech