Greenlight Financial Technology

wealthtech-retailpersonal finance management

FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 03/05/2021

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About

Greenlight is a mobile based platform that allows parents to manage, track and control spends of their kids.Using Greenlight app, a child can request to spend money at a specific store or spend anywhere. Greenlight cards are updated in real-time when parent approves a request or sends money.

MEDICI Analysis

Greenlight is a mobile based platform that allows parents to manage, track and control spends of their kids.Using Greenlight app, a child can request to spend money at a specific store or spend anywhere. Greenlight cards are updated in real-time when parent approves a request or sends money.

Focus

PRODUCTS & SERVICES

Mobile app to control child allowances. It is easy to manage the multiple kids’ spending from one simple app.

REVENUE MODEL

Greenlight is free for 30 days and then just $4.99/mo for an entire family up to 5 kids.

MAIN CLIENTS

Retail consumers

PRIMARY PROBLEM SOLVED

Greenlight makes it easy for parents to give money to their kids in a safe way even when they aren't around or don't have cash on hand.

company provided insights

Traction

COMPANY TYPE:

For Profit

REVENUE

$1.0M - $4.99M

NUMBER OF TRANSACTIONS:

1 M

TRANSACTIONS VALUE:

10 M

ACTIVE USERS:

15000

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

359,439

AVERAGE VISITS (6 MONTHS)

232,487.31

MONTHLY VISITS GROWTH

9.84%

VISIT DURATION

196

VISIT DURATION GROWTH

24.48%

PAGE VIEWS VISIT

2.27

PAGE VIEWS VISIT GROWTH

-5.35%

BOUNCE RATE

64.78%

BOUNCE RATE GROWTH

-2.45%

GLOBAL TRAFFIC RANK

124,337

MONTHLY RANK CHANGE

-26,109

MONTHLY RANK GROWTH

-17.35%

Innovation Programs

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Greenlight

About

Greenlight is a mobile based platform that allows parents to manage, track and control spends of their kids.Using Greenlight app, a child can request to spend money at a specific store or spend anywhere. Greenlight cards are updated in real-time when parent approves a request or sends money.

Focus

PRODUCTS & SERVICES

Greenlight is the smart debit card for kids that parents manage from their phones with flexible parental controls. It's the world's first debit card that lets parents pick the exact stores where their children can spend. Parents can instantly send money to their kids even if they're not with them, set up automatic allowances, receive real-time spending alerts, and more.

REVENUE MODEL

Greenlight is free for 30 days and then just $4.99/mo for an entire family up to 5 kids.

TOP PROBLEM SOLVED

Greenlight makes it easy for parents to give money to their kids in a safe way even when they aren't around or don't have cash on hand.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

KEY DIFFERENTIATORS

The Greenlight card is the smart debit card for kids that is safer than cash. It enables parents to manage their kid’s spending from their smartphone. For example, a parent can pick the exact stores where their kids can spend, freeze the card if lost or stolen, receive instant spending alerts and automate allowances. Greenlight is ideal for savvy parents of kids aged 8 to 18 who want to empower them to make smart decisions with money while keeping them safe and protected.   1. Store-level controls: Greenlight is the ONLY debit card in the world that offers this unique capability. Through the mobile app, parents can choose the specific stores or categories where their kids can spend money. 2. Instantly transfer money: Money can be instantly transferred from the parent’s bank account onto their kids' Greenlight Cards through the mobile app. This helps parents provide their kids money immediately when they are not in the same location and makes allowance days much easier by eliminating the need to search for cash. 3. Real-time alerts: Greenlight sends parents a real-time notification every time their son or daughter uses the card, letting them know where they are shopping and how much they spent. Kids also receive the alerts.

PRIMARY CUSTOMER TYPE

Consumer

PRODUCT ATTRIBUTES

SaaS

STRATEGIC CLIENTS AND PARTNERSHIP

Community Federal Savings Bank : Issuer of the Greenlight Card

Traction

ANNUAL REVENUE:

$1.0M - $4.99M

NUMBER OF TRANSACTIONS:

1 M

TRANSACTIONS VALUE:

10 M

ACTIVE USERS/ACCOUNTS:

15000 Million

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Direct marketing and partnerships

CHANNEL STATUS

CHANNEL SECURE

People

NUMBER OF EMPLOYEES

11-50

Momentum

FUNDED

YES

LISTED

NO

SEED CLOSED ON

Jul 2011

FUNDING SERIES