Kid Debit Card Startup Greenlight Valued at $2 Billion in Andreessen-Led Round

Andreessen Horowitz is leading a new round of funding in Greenlight Financial Technology, a startup that offers debit cards meant for children, at a $2 billion valuation, according to two people familiar with the deal.

The new funding comes as two rivals—Current and Step, which both offer specialized charge cards to teenagers—finalize new rounds of funding likely to see big boosts in their valuations. Current’s valuation is expected to nearly triple to $2 billion as part of a Series D funding round in the works, according to one person with direct knowledge of the deal. Meanwhile, Step, which has previously received funding from Stripe, is raising new capital at a valuation near $1 billion, up from approximately $300 million, according to two people familiar with the deal.