Step secures an additional $300 million, launches crypto investing and a financial literacy program

Teens and young adults can now invest and earn crypto on the Step App and stocks are coming soon.

Crypto Investing Image

PALO ALTO, Calif. –– October 11, 2022 –– Step, the all-in-one financial solution for the next generation, announced up to $300 million in debt funding led by Triplepoint Capital and Evolve Bank & Trust. The new funding brings the total capital raised by Step to $500M.

With this new round of funding, Step will accelerate investments in product infrastructure and continue to bring ground-breaking financial products to the next generation. Step is the first platform to allow people under the age of 18 to build a positive credit history with their own secure Step Visa Card, opening doors to better terms and more comprehensive financial products earlier in adulthood.

“Gen Z is the generation of creators, entrepreneurs and investors. They are redefining norms and taking control of their financial futures earlier in life thanks to products like Step” said Jim Labe, Co-Chief Executive Officer at Triplepoint Capital. “We are excited to partner with the Step team to continue scaling the business to millions of financially-savvy teens and young adults.”
Jim Labe, Co-Chief Executive Officer at Triplepoint Capital

CJ MacDonald, Founder and CEO at Step
“In less than two years, we’ve been able to help more than 3 million customers establish a strong financial foundation and begin to think about their long-term goals,” said CJ MacDonald, Founder and CEO of Step. “We’re thrilled to be able to offer teens and young adults the ability to build credit, budget, spend, save, earn and now invest in their financial futures directly within the Step App.”

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