Charli D’Amelio, the TikTok teen sensation with over 100 million followers on the video application is now an investor in Step, a teen banking app. D'Amelio joins the likes of Justin Timberlake and The Chainsmokers to be an investor in the banking app.
“As a Step partner and customer, I’ve been able to see firsthand how easy Step makes it to manage your money while providing the educational resources that today’s teens need but have largely been unable to find—myself included,” D'Amelio said.
Step, a Silicon Valley FinTech startup has raised $50 million. The service offers an all-in-one banking solution with a personalized card that has no interest or fees and helps teens build positive credit.
D'Amelio, through her partnership with Step, hopes to promote financial literacy and money management among the 100 million followers. According to Coatue Management, one of the investors who led a funding effort for Step, Generation Z has an estimated spending power of $75 billion.
Additional investors include Eli Manning, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala. Tech investors for the app include Facebook, Square, Venmo, Visa and others.
