Teen banking platform Step just raised millions of dollars in funding and added Charli D’Amelio to their investor list. Step, a mobile banking service targeting teens, announced that it raised $50 million in funding after reaching over 500,000 users in just two months following their official launch. During this round of funding, the company added some celebrity investors including The Chainsmokers, Justin Timberlake, and Charli D’Amelio. They recently teamed up with the TikTok star to “promote the product and talk about financial literacy” across her social channels. The service specifically targets 13-18-year-olds by offering them an FDIC-insured bank account without fees as well as a secured Visa card that helps them establish credit before they’re adults. They also serve as a P2P platform so users can send money to their friends. (TechCrunch)
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