SAN FRANCISCO—Stripe announced today that it is leading a $22.5 million Series A funding round for Step, which provides teens and families with tools for modern-day banking and promotes financial literacy.

Additional investors participating in Step’s funding round include Crosslink Capital, Collaborative Fund, and Sesame Ventures.

“Stripe is committed to searching for new ways to remove barriers to commerce and broaden economic access to more people,” said Jordan Angelos, head of corporate development at Stripe, who is joining Step’s board. “Step will help teenagers responsibly participate in a financial system that’s moving online, and teach money management skills through direct experience. We’re thrilled to support their efforts.”

For more information, read Step’s press release.