.
MergerLinks Header Logo

Announced

Completed

General Catalyst led a $100m Series C funding round in Step.

Financials

Edit Data
Transaction Value£72m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

Edit

Friendly

Private

Payments / Commerce

Single Bidder

Domestic

banking for teens

Acquisition

Minority

Venture Capital

United States

Private Equity

Completed

Synopsis

Edit

General Catalyst led a $100m Series C funding round in Step, a financial services company built for teens and families. The round had participation from returning investors Coatue, Stripe, Charli D’Amelio, The Chainsmokers’ Mantis, Will Smith’s Dreamers and Jeffrey Katzenberg’s firm WndrCo. Step also welcomed Jared Leto and Franklin Templeton to the round. “Our mission is to help improve the financial futures of the next generation and we’re thrilled to have such a massive vote of confidence from investors, especially during Financial Literacy Month. 38% of teens say they lack the financial resources needed to achieve financial independence and this is a problem Step is well-positioned to help solve as we educate millions of households every day,” CJ MacDonald, Step Founder and CEO.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US