Funding round
Greenlight Series D
Greenlight, which works in family finance solutions in Atlanta, raised $260M in a Series D round announced on 27 Apr 2021, led by Andreessen Horowitz, at a $2.30B post-money valuation. 10 firms took part, 6 of them already investors. It is Greenlight's fifth venture round on record; the one before was a Series C in Sep 2020.
$260M
Amount raised
$2.30B
Post-money valuation
10
Investors
1 lead
1.9x
Step-up from the Series C
$1.20B in Sep 2020
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Greenlight at $2.30B after the new money, 1.9 times the $1.20B of its Series C (Sep 2020). The $260M bought investors about 11% of the company. It came 7 months after Greenlight's Series C. It is 47% of the $553M Greenlight has raised in the venture rounds on record. No later venture round is on record for Greenlight.
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 1 Sep 2020, led by Canapi Ventures and TTV Capital $215M$1.20B post-money
- Series D this round 27 Apr 2021, led by Andreessen Horowitz $260M$2.30B post-money
Investors
Who put money in
Andreessen Horowitz led the round with 9 other firms. TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital and BOND and 2 more had backed Greenlight before.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
Also in the round
- backs 49 venture-backed companies existing investor
- Canapi Ventures existing investor
- Wells Fargo Strategic Capital existing investor
- BOND backs 91 venture-backed companies existing investor
- backs 49 venture-backed companies existing investor
- Goodwater Capital backs 162 venture-backed companies existing investor
- Wellington Management new investor
- backs 71 venture-backed companies new investor
- backs 24 venture-backed companies new investor
Joined the board: David George (Andreessen Horowitz).
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
20 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $169M, and this round was 1.5 times the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| CRED Payment Processing & Point of Sale | 6 Apr 2021 | $215M | $2.20B | Alpha Wave Global and Coatue |
| Payment Processing & Point of Sale | 28 Apr 2021 | $80M | not disclosed | Tencent and European Bank for Reconstruction and Development |
| Payment Processing & Point of Sale | 8 Apr 2021 | $70M | not disclosed | Addition |
| SpotOn Payment Processing & Point of Sale | 26 May 2021 | $125M | $1.88B | Andreessen Horowitz |
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
| Airwallex Payment Processing & Point of Sale | 23 Mar 2021 | $100M | $2.60B | Greenoaks |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Greenlight raise in its Series D round?
Greenlight raised $260M in its Series D round, announced in Apr 2021.
Who led Greenlight's Series D round?
Andreessen Horowitz led it, with TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND and Fin Capital and 4 more.
What was Greenlight's valuation at the Series D round?
$2.30B post-money.
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
20 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $169M, and this round was 1.5 times the median.