Step announced a $50 million Series B round of funding. The round was led by Coatue, with participation from returning investors Stripe, Crosslink Capital, Collaborative Fund and Will Smith's Dreamers VC.

Step also added several new investors including Charli D'Amelio, Justin Timberlake, The Chainsmokers, Eli Manning, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala alongside prominent fintech executives from the likes of Facebook, Square, Venmo, Visa and others.

Step was founded by financial industry veterans CJ MacDonald and Alexey Kalinichenko to provide teens and their families financial tools for today's modern day banking needs and to promote financial literacy for the future. The Step all-in-one mobile solution provides the ultimate in financial flexibility with parental parameters in place.