Funding round
Greenlight Series C
Greenlight, which works in family finance solutions in Atlanta, raised $215M in a Series C round announced on 1 Sep 2020, led by Canapi Ventures and TTV Capital, at a $1.20B post-money valuation. 7 firms took part. It is Greenlight's fourth venture round on record; the one before was a Series B in Sep 2019.
$215M
Amount raised
$1.20B
Post-money valuation
7
Investors
2 leads
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Greenlight at $1.20B after the new money. The $215M bought investors about 18% of the company. It came 12 months after Greenlight's Series B. It is 39% of the $553M Greenlight has raised in the venture rounds on record. Greenlight raised again 7 months later: a Series D round of $260M in Apr 2021, at $2.30B 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 16 Sep 2019, led by Drive Capital $54M
- Series C this round 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
Canapi Ventures and TTV Capital led the round with 5 other firms.
Lead investors
- Canapi Ventures new investor
- backs 49 venture-backed companies new investor
Also in the round
- BOND backs 91 venture-backed companies new investor
- DST Global backs 179 venture-backed companies new investor
- Goodwater Capital backs 162 venture-backed companies new investor
- backs 49 venture-backed companies new investor
- backs 35 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
27 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $75M, and this round was 2.9 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Neon Payment Processing & Point of Sale | 2 Sep 2020 | $300M | not disclosed | General Atlantic |
| SpotOn Payment Processing & Point of Sale | 23 Sep 2020 | $60M | not disclosed | DST Global |
| Payment Processing & Point of Sale | 16 Sep 2020 | $31M | not disclosed | Truist Ventures |
| Payment Processing & Point of Sale | 21 Sep 2020 | $25M | not disclosed | not named |
| Payment Processing & Point of Sale | 13 Aug 2020 | $100M | $500M | Eldridge Industries and Eldridge |
| Satispay Payment Processing & Point of Sale | 20 Nov 2020 | $110M | not disclosed | Square and Tencent |
| Payment Processing & Point of Sale | 17 Nov 2020 | $68M | not disclosed | FTV Management Company |
| Bolt Payment Processing & Point of Sale | 16 Jul 2020 | $50M | not disclosed | WestCap |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Greenlight raise in its Series C round?
Greenlight raised $215M in its Series C round, announced in Sep 2020.
Who led Greenlight's Series C round?
Canapi Ventures and TTV Capital led it, with BOND, DST Global, Goodwater Capital, Fin Capital and Relay Ventures.
What was Greenlight's valuation at the Series C round?
$1.20B post-money.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
27 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $75M, and this round was 2.9 times the median.
Did Greenlight raise again after this round?
Yes: a Series D round in Apr 2021 of $260M at $2.30B post-money.