Step raises $100 million in Series C funding & surpasses 1.5 million users after less than six months in market

Led by General Catalyst, the round includes several existing Silicon Valley investors alongside serial angel investor Jared Leto; also announces Stephen Curry as an early investor in the company.

Step raises $100 million in Series C funding & surpasses  1.5 million users after less than six months in market

SAN FRANCISCO — April 27, 2021 — Step, the new modern-day financial services company built for teens and families, today announced a $100 million Series C round of funding. The round was led by General Catalyst, with participation from returning investors Coatue, Stripe, Charli D’Amelio, The Chainsmokers’ Mantis VC, Will Smith’s Dreamers VC and Jeffrey Katzenberg’s firm WndrCo. Step also welcomed Jared Leto and Franklin Templeton to the round and formally announced NBA All-Star Stephen Curry as an investor, who has supported the company from the early days.

These investors join a prominent group that includes the likes of Alex Rodriguez, Justin Timberlake, Josh Richards and former Square executives Sarah Friar, Jacqueline Reses and Gokul Rajaram. To date, Step has raised more than $175 million from investors and continues to deliver explosive growth, adding over one million new users since its $50 million round in December 2020.

“Our mission is to help improve the financial futures of the next generation and we’re thrilled to have such a massive vote of confidence from investors, especially during Financial Literacy Month,” said CJ MacDonald, Founder and CEO at Step. “Thirty-eight percent of teens say they lack the financial resources needed to achieve financial independence and this is a problem Step is well positioned to help solve as we educate millions of households every day.”

CJ MacDonald
Our mission is to help improve the financial futures of the next generation and we’re thrilled to have such a massive vote of confidence from investors, especially during Financial Literacy Month."

Kyle Doherty
The team has built the elusive offering that teens want and families need, which has been validated by their incredible growth and market momentum."

Jared Leto
For too long, conversations about money –– specifically how to manage it –– have been avoided despite what a critical role they play in shaping the future of the next generation."

Stephen Curry
Step helps facilitate conversations about money and makes it easy for parents to give their kids a taste of financial freedom with a built-in safety net and lots of teachable moments.”

  • Step is a financial technology company not a bank Banking services provided by Evolve Bank Trust Member FDIC The Step Visa Card is issued by Evolve Bank Trust pursuant to a license from Visa USA Inc Visa is a registered trademark of Visa International Service Association

©️ 2022 Step Mobile, Inc. All rights reserved.