Kevin Durant and Chris Paul are sweeping the financial literacy space.
Goalsetter, a fintech startup that aims to put kids and teenagers “on the path to financial freedom,” raised $3.9 million in a seed round led by the two All-Stars and Robert F. Smith, chairman of Vista Equity Partners.
Durant and Paul are joined by other athletes including former NBA player Baron Davis and retired New York Yankees pitcher C.C. Sabathia. PNC Bank, Mastercard and Elevate Capital are also investors.
“It’s larger than just a check. They are investing in the next generation of kids to make sure they learn financial education,” said Tanya Van Court, founder and chief executive officer of Goalsetter.
The company says it will use this round of funding to “expand its mobile application platform and accelerate subscriber growth.” Van Court told CNBC that more corporate partnerships will be revealed later this year.
Durant has expressed interest in financial literacy for some time now. In 2016, he invested in Acorns, a micro-investing app that allows users to invest leftover change. The company received an $860 million valuation in January 2019.
“Supporting up-and-coming generations by tackling tough issues and empowering them with the tools for success has always been a priority in my life,” the two-time NBA champion said at the time.