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Greenlight Financial Raises $260 Mln, Valuation Nearly Doubles To $2.3 Bln

Fintech company Greenlight Financial Technology, Inc. on Tuesday said that it has raised $260 million in Series D funding.

The series was initiated by Andreessen Horowitz with active support from return investors TTV Capital, Canapi Ventures, Wells Fargo Strategic Capital, BOND, Fin VC, Goodwater Capital, as well as new investors like Wellington Management, Owl Ventures and LionTree Partners.

With this investment, the company's total funding has reached more than $550 million and its valuation has risen from $1.2 billion to $2.3 billion in the last six months.

Greenlight Financial plans to use the funding to speed up product development in order to add more financial features to its portfolio. The funding will also be used for setting up facilities across different places and to invest more in strategic distribution firms.

Greenlight also plans to hire 300 more employees in order to improve its engineering services over the coming two years.

Commenting on the funding, Tim Sheehan, co-founder and CEO, Greenlight, said, "Today's financing will enable us to bring even more value to families as we continue to introduce new innovative products that shine a light on the world of money."

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