Funding round
Greenlight Series B
Greenlight, which works in family finance solutions in Atlanta, raised $54M in a Series B round announced on 16 Sep 2019, led by Drive Capital. 6 firms took part. It is Greenlight's third venture round on record; the one before was a Series A in Feb 2018.
$54M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Greenlight did not disclose a valuation in this round. It came 19 months after Greenlight's Series A. It is 9.8% of the $553M Greenlight has raised in the venture rounds on record. Greenlight raised again 12 months later: a Series C round of $215M in Sep 2020, at $1.20B post-money.
Greenlight's funding rounds
Greenlight has 5 venture rounds on record. This one is highlighted.
- Seed 2 Jun 2017, led by Relay Ventures $7.5M
- Series A 21 Feb 2018, led by TTV Capital $16M
- Series B this round 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
Drive Capital led the round with 5 other firms.
Lead investor
- Drive Capital new investor
Also in the round
- JPMorgan Chase new investor
- Wells Fargo new investor
- backs 49 venture-backed companies new investor
- Live Oak Bank new investor
- backs 35 venture-backed companies new investor
Joined the board: Chris Olsen (Drive Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
40 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $29M, and this round was 1.9 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 13 Sep 2019 | $67M | not disclosed | Lightspeed Venture Partners and Tiger Global |
| Payment Processing & Point of Sale | 23 Sep 2019 | $4.8M | not disclosed | not named |
| CRED Payment Processing & Point of Sale | 26 Aug 2019 | $120M | $450M | Sequoia Capital and Ribbit |
| Payment Processing & Point of Sale | 28 Oct 2019 | $65M | not disclosed | Digitalis Ventures |
| Payment Processing & Point of Sale | 24 Oct 2019 | $35M | not disclosed | Goldman Sachs |
| Payment Processing & Point of Sale | 10 Oct 2019 | $15M | not disclosed | eWTP Fund and China Merchants Venture Capital |
| Payment Processing & Point of Sale | 15 Oct 2019 | $7.0M | not disclosed | not named |
| OPay Payment Processing & Point of Sale | 18 Nov 2019 | $120M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Greenlight raise in its Series B round?
Greenlight raised $54M in its Series B round, announced in Sep 2019.
Who led Greenlight's Series B round?
Drive Capital led it, with JPMorgan Chase, Wells Fargo, TTV Capital, Live Oak Bank and Relay Ventures.
What was Greenlight's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
40 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $29M, and this round was 1.9 times the median.
Did Greenlight raise again after this round?
Yes: a Series C round in Sep 2020 of $215M at $1.20B post-money.