About Step
Step is a company based in New York (United States) founded in 2014 by Alexey Kalinichenko and C J MacDonald. It operates as a FinTech, and Freemium. Step has raised $176.3 million across 5 funding rounds from investors including Stripe, Sesame Workshop and WndrCo. Step offers products and services including Step App, Step Visa Card, and EarlyPay. Step operates in a competitive market with competitors including Copper, BankMobile Vibe, Crew, Till Financial and Suvi Cash, among others.
- Headquarter New York, United States
- Founders Alexey Kalinichenko, C J MacDonald
-
Sectors
Financial Services
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Step Mobile, Inc.
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$176.3 M (USD)
in 5 rounds
-
Latest Funding Round
$300 M (USD), Debt – Conventional
Oct 11, 2022
-
Investors
Stripe
& 30 more
-
Employee Count
Employee Count
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Step
Step offers a comprehensive portfolio of products and services, including Step App, Step Visa Card, and EarlyPay. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
An all-in-one app for banking and credit.
A card designed to build credit history.
Borrow up to $250 before payday instantly.
Unlock access to complete
Funding Insights of Step
Step has successfully raised a total of $176.3M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $300 million completed in October 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Debt – Conventional — $300.0M
-
First Round
First Round
(31 Jan 2019)
- Investors Count 31
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2022 | Amount | Debt – Conventional - Step | Valuation |
investors |
|
| Apr, 2021 | Amount | Series C - Step | Valuation | General Catalyst | |
| Dec, 2020 | Amount | Series B - Step | Valuation | Coatue |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Step
Step has secured backing from 31 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Stripe, Sesame Workshop and WndrCo. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Investment and transformation services for entrepreneurs in technology and finance sectors.
|
Founded Year | Domain | Location | |
|
Provider of an investment platform for various stages
|
Founded Year | Domain | Location | |
|
Venture capital firm focused on fintech, healthcare, logistics, enterprise tech, AI, ed tech, and multiple sectors
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Step
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Step
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Step Comparisons
Competitors of Step
Step operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Copper, BankMobile Vibe, Crew, Till Financial and Suvi Cash, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based CRM and project management software is provided by Stride.
|
|
| domain | founded_year | HQ Location |
Digital banking services are offered to students through mobile apps.
|
|
| domain | founded_year | HQ Location |
Crew is recognized as a financial technology company offering digital banking solutions.
|
|
| domain | founded_year | HQ Location |
Financial management platform for kids
|
|
| domain | founded_year | HQ Location |
Serves as a digital bank specializing in joint and teen accounts.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Step
Frequently Asked Questions about Step
When was Step founded?
Step was founded in 2014 and raised its 1st funding round 5 years after it was founded.
Where is Step located?
Step is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Step?
C J MacDonald is the current CEO of Step. They have also founded this company.
Is Step a funded company?
Step is a funded company, having raised a total of $176.3M across 5 funding rounds to date. The company's 1st funding round was a Series B of $50M, raised on Jan 31, 2019.
What does Step do?
Step is operated as a financial technology company providing an all-in-one money app. Banking and credit-building services are offered through partnerships with Evolve Bank Trust. Solutions include borrowing up to 250 with EarlyPay, earning cashback on purchases, and building credit history with the Step Visa Card. The app targets individuals and families seeking financial independence, with a focus on younger users. Services are extended across the United States, emphasizing security with FDIC insurance and Visas Zero Liability Protection.
Who are the top competitors of Step?
Step's top competitors include Crew, BankMobile Vibe and Sproutly.
What products or services does Step offer?
Step offers Step App, Step Visa Card, and EarlyPay.
Who are Step's investors?
Step has 31 investors. Key investors include Stripe, Sesame Workshop, WndrCo, General Catalyst, and Coatue.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.