Gen Z finances

Greenlight is a US-based debit card and app which aims to teach kids and teens about financial literacy. Parents can monitor kids’ spending through the app, adding money when needed and limiting which venues it can be spent at. In September, they announced they had raised $54 million in Series B funding which will enable them to add further layers of education to the app. Speaking about the purpose of the company, CEO and Co-Founder, Tim Sheehan, said, “In the near future, I hope that this generation of kids grow up to spend wisely, learn the importance of saving and feel confident investing to build wealth over the long-term.”

Still in development, Step is a US-based fintech start-up. Their aim is to speak directly with their teenage audience, empowering them manage their own money. Using limited accounts, Step will even allow teenagers to sign up without needing parental permissions. Unlike other services, their initial account will be fee-free allowing them to work with teens and young adults of all financial levels.