Teen banking service Step raises $50M
Step, a mobile banking service aimed at teens, announced this morning it has raised $50 million in Series B funding after growing to over 500,000 users only two months after its official launch, TechCrunch reports.
The round was led by Coatue, with returning investors from Stripe, Crosslink Capital, Collaborative Fund and Will Smith’s Dreamers VC. The startup also added some celeb investors to this round, including Charli D’Amelio, Justin Timberlake and The Chainsmokers, as well as big names from the world of sports, like Eli Manning, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala.
