Teen banking app Step reaches for the stars to raise $50 million

LONDON (Reuters) – Teen banking app Step has raised $50 million (37.4 million pounds) from investors led by Coatue Management alongside celebrities such as singer Justin Timberlake, influencer Charli D’Amelio and former quarterback Eli Manning.

Step, which offers teenagers a bank account connected to a secured spending card and peer-to-peer payments, also said it had secured funding from existing backers including Stripe, Will Smith’s Dreamers VC, CrossLink Capital and Collaborative Fund.

San Francisco-based Step allows parents to view balances and real-time activity, add money to their teens’ accounts and manage and freeze cards. It does not charge fees but makes money from card interchange.

Other stars involved in the fundraising included The Chainsmokers, Kelvin Beachum, Larry Fitzgerald and Andre Iguodala, Step said in a statement on Wednesday.

The startup, which has attracted more than 500,000 users since launching two months ago, will use the funding to grow the team and

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Teen Kills Self Allegedly After Her Morphed Photos Were Circulated On Social Media

A 16-year-old girl in India killed herself allegedly after her morphed photos surfaced online.

The girl, who was not identified, allegedly received threats from anonymous people that her morphed photos would be shared on social media.

Her family members initially took the threats lightly, but when the girl continued to receive them, they approached the police. The family said the police did not take the complaint seriously, local daily the Indian Express reported.

Last week, the girl’s friends informed her that her photos were being circulated on social media. Soon, the girl’s relatives also came across such photos and informed her parents.

When the girl did not open her room door for hours, the family members broke the door open and found her hanging from the ceiling at her home in North 24 Parganas, a district in the eastern state of West Bengal.

She was rushed to a nearby hospital

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