Neobank Step Raises $300 Million in Debt Financing
Neobank Step, self-described as an “all-in-one financial solution for the next generation,” has raised up to $300 million in debt financing. The funding was provided by Triplepoint Capital and Evolve Bank & Trust. Step reports that this brings its total funding to $500 million.
Step said the additional capital will accelerate its product to provide financial services to younger consumers. Step allows users as young as 18 to build a credit history with a Step Visa Card, while providing access to investment options alongside educational options. Today, Step said it has launched crypto investing, powered by Zero Hash, allowing teens to invest in Bitcoin with other cryptocurrencies added soon.