Goalsetter, which provides educational tools to help kids and teens better understand banking, has closed its seed round on $3.9m.
The capital injection will enable the company to accelerate its subscriber growth and further the platform’s development.
Asita served as the lead investor to the oversubscribed round, with participation also coming from PNC Bank, Mastercard, US Bank, Northwestern Mutual Future Ventures, Elevate Capital, Portfolia’s FirstStep Fund and Rising America Fund and Pipeline Angels.
Several angel investors also contributed to the round, Vista Equity founder, chairman and CEO Robert Smith, NBA Stars Kevin Durant, Chris Paul, and Baron Davis, actors Sterling K. Brown and Ryan Bathe, MLB Star CC Sabathia and PitCCh In executive director Amber Sabathia.
The app offers a selection of financial education tools, such as Learn to Earn, which lets kids earn money for every financial quiz question the get correct. The Learn Before You Burn tool enables parents to automatically freeze teens’ and tweens’ debit cards if they have not taken their financial literacy quiz that week.
Goalsetter CEO and founder Tanya Van Court said, “As the only Black-woman owned FinTech company focused on the kid’s FinTech space, we know how critical early finance education is to all kids in our country, and to Black and Brown kids in particular.
“Despite an increasing buying power, our Black and Latino communities are trending towards negative worth. Now is the time to teach our children to become smart spenders instead of conspicuous consumers. Goalsetter does this by teaching them that financial education, saving, and investing are the building blocks for achieving generational wealth.”
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