Funding round
Greenlight Seed
Greenlight, which works in family finance solutions in Atlanta, raised $7.5M in a Seed round announced on 2 Jun 2017, led by Relay Ventures. 4 firms took part. It is Greenlight's first venture round on record.
$7.5M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Greenlight did not disclose a valuation in this round. It is Greenlight's first venture round on record, 3 years after it was founded in 2014. It is 1.4% of the $553M Greenlight has raised in the venture rounds on record. Greenlight raised again 8 months later: a Series A round of $16M in Feb 2018. Its next priced round, a Series C in Sep 2020, valued it at $1.20B.
Greenlight's funding rounds
Greenlight has 5 venture rounds on record. This one is highlighted.
- Seed this round 2 Jun 2017, led by Relay Ventures $7.5M
- Series A 21 Feb 2018, led by TTV Capital $16M
- Series B 16 Sep 2019, led by Drive Capital $54M
- Series C 1 Sep 2020, led by Canapi Ventures and TTV Capital $215M$1.20B post-money
- Series D 27 Apr 2021, led by Andreessen Horowitz $260M$2.30B post-money
Investors
Who put money in
Relay Ventures led the round with 3 other firms.
Lead investor
- backs 35 venture-backed companies new investor
Also in the round
- Social Capital backs 94 venture-backed companies new investor
- New Enterprise Associates backs 286 venture-backed companies new investor
- backs 49 venture-backed companies new investor
Joined the board: Alex Baker (Relay Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, sales and marketing, scaling operations and working capital.
- Hiring
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
22 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.0M, and this round was 3.8 times the median. The closest in time, other companies' Seed rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 1 Aug 2017 | $2.5M | not disclosed | Green Visor Capital |
| Payment Processing & Point of Sale | 2 Oct 2017 | $2.0M | $30M | not named |
| Payment Processing & Point of Sale | 16 Feb 2017 | $1.3M | not disclosed | Connect Ventures |
| Payment Processing & Point of Sale | 7 Oct 2017 | $1.0M | $6.1M | not named |
| Payment Processing & Point of Sale | 29 Nov 2017 | $4.0M | not disclosed | Forward Partners |
| Payment Processing & Point of Sale | 1 Nov 2017 | $2.0M | not disclosed | not named |
| Qonto Payment Processing & Point of Sale | 20 Jan 2017 | $1.7M | not disclosed | Alven |
| Payment Processing & Point of Sale | 25 Dec 2016 | $3.7M | not disclosed | Speedinvest |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Greenlight raise in its Seed round?
Greenlight raised $7.5M in its Seed round, announced in Jun 2017.
Who led Greenlight's Seed round?
Relay Ventures led it, with Social Capital, New Enterprise Associates and TTV Capital.
What was Greenlight's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Payment Processing & Point of Sale?
22 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.0M, and this round was 3.8 times the median.
Did Greenlight raise again after this round?
Yes: a Series A round in Feb 2018 of $16M.