Step is the new modern-day financial services company built for teens and families.
Step's mission is to create a bank that gives you the tools to become smarter with your money and reward you along your financial journey.
Step was founded in 2018 by CJ MacDonald and Alexey Kalinichenko. The company is headquartered in Palo Alto, California.
Step is the next generation financial services company building the best banking experience to help teens and young adults achieve financial independence and knowledge at an earlier age.
Step offers users a free, FDIC insured bank account, secured spending card backed by Visa and P2P payments platform so teens can send and receive money instantly.
Step has seen tremendous growth with over 500,000 users on the platform. Unlike other fintechs, Step does not charge fees of any kind and enables teens to start building credit earlier by simply using their Step Card.
Step is backed by Coatue, Stripe, Crosslink Capital, Collaborative Fund, Dreamers VC, Charli D’Amelio, Justin Timberlake and others. The company raised $50M in Series B round on Dec 02, 2020. This brings Step's total funding to $76.3M to date.