Greenlight raises $7.5 million so parents can provide a smart debit card to their kids


Back when I was a kid, my parents gave me cash as part of my allowance or whenever I ever needed to make a purchase at the mall. But these days, who uses cash or has it lying around?

For parents today, a company called Greenlight is offering a smart debit card that can be given to their kids, instantly reloaded with funds from a mobile app, and place restrictions around merchants their children can make purchases.

After less than six months in market, the company has already signed up 10,000 paying customers and has attracted $7.5 million in funding from investors that include Relay Ventures, Social Capital, New Enterprise Associates (NEA) and TTV Capital. Greenlight plans to use that funding to expand its team and invest in attracting more customers with its smart debit…

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