# Green Dot Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/green-dot

- Industry: Financial Services
- Headquarters: Pasadena, US
- Website: www.greendot.com
- Total disclosed funding: $20M
- Latest round: Series D (Dec 31, 2006)
- Investors on record: 4

## About

Green Dot Corporation is a financial technology company that offers innovative banking solutions, including mobile bank accounts and debit cards, aimed at enhancing consumer access to financial services.Green Dot Corporation, founded in 1999 in Pasadena, US, provides mobile banking solutions and was involved in an IPO in July 2010, raising USD 165.6 million. The company is led by CEO Cons Ong and co-founders George Gresham and Greg Quarles. The company has completed 7 deals in total, with the most recent deal taking place on July 22, 2010.Green Dot Corporation specializes in providing innovative banking solutions, primarily through its core offerings of mobile bank accounts and debit cards. The company’s flagship products include the Green Dot Unlimited Banking account and the GO2bank account, designed to meet the needs of consumers seeking accessible and user-friendly banking options. These accounts facilitate services such as early direct deposit, which allows users to access their paychecks up to two days early, and a high-yield savings account that offers competitive interest rates on deposits. Green Dot's products are particularly aimed at individuals who prefer digital banking solutions, including those with limited access to traditional banking services. The company operates in multiple geographical markets, including the United States and parts of Puerto Rico, targeting a diverse customer base that encompasses various demographics, from young adults to families seeking efficient financial management tools.Green Dot generates revenue primarily through transaction fees, account management fees, and interest income from its banking products. For the year 2024, the company reported a revenue of USD 1,723.88 mn and an EBITDA of USD 81.05 mn. The company's revenue structure is supported by a direct-to-consumer model, wherein customers pay monthly service fees based on their chosen account plans. For instance, the Green Dot Unlimited account features a fee structure that can be waived through qualifying direct deposits, facilitating consumer engagement and retention. Additionally, the company implements a transaction model where customers may incur fees for cash withdrawals beyond a certain limit or for specific banking services, such as check cashing through its partnership with Ingo Money. This multifaceted revenue approach not only enhances customer loyalty but also drives profitability by capitalizing on the growing trend of mobile banking and digital financial services.Green Dot Corporation aims to expand its product offerings with new banking solutions designed to cater to diverse consumer needs. The company plans to enter additional markets beyond the United States and Puerto Rico, although specific regions are yet to be disclosed. The funding raised in July 2010, amounting to USD 165.6 million, will support these initiatives and bolster the company's growth strategy.

## Funding rounds

- Series D, Dec 31, 2006, $20M — Hong Shan, GE Capital Equity, TTV Capital, Tech Coast Angels
- Series A, Jan 1, 2003 — Hong Shan

## Investors

- Hong Shan — Series A, Series D
- GE Capital Equity — Series D
- TTV Capital (https://capitalatlas.ai/funds/ttv-capital) — Series D
- Tech Coast Angels — Series D