Copper Banking halts teen bank accounts and debit cards after Synapse’s bankruptcy and failed $9.7M sale
Copper Banking abruptly shut its deposit accounts and debit cards after its banking-as-a-service provider Synapse began sunsetting services amid bankruptcy and a failed sale, leaving a small percentage of customers temporarily without access to funds while the company works with partners to return money and pivot to white-labeled bank partnerships.
Copper raises $29M Series A led by Fiat Ventures, totals $42.3M as users surge to 800,000
Copper, a Seattle-based teen-focused digital bank, raised $29 million in a Series A led by Fiat Ventures, bringing total funding to $42.3 million as its user base grew to over 800,000; the company plans to launch investing features for teens soon.
Fintech Startups Like Step and Goalsetter Build Child-Friendly Banking Tools and Attract Venture Funding
Fintech startups are building child-focused banking and education tools to teach kids spending and saving habits early, responding to research that money habits form young and to parent demand for better financial literacy products.
Organizations
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Copper CEO and Co-founder · current
