Current joined the Unicorn Club on April 27, 2021. Headquartered in New York City, New York, United States, the company provides a digital banking platform for individuals. Current offers savings accounts, NFC-enabled prepaid cards for online and offline purchases, bill payments, money transfers, automated savings, teen banking, cashback rewards, and more. Its platform combines convenience, financial education, and innovative banking features to deliver a modern alternative to traditional banks.
Keep reading to learn how Current built a billion-dollar platform redefining digital banking and financial services for individuals.
What Is Current and What Does It Do?
Founded in 2015, Current provides a digital-first banking experience designed for everyday users. Its offerings include prepaid cards, instant money transfers, automated savings, teen banking accounts, and rewards for spending. The platform aims to simplify personal finance management, deliver real-time banking insights, and make banking accessible and engaging for all ages. By focusing on customer experience, Current combines technology, financial education, and banking services in a single platform.
How Much Funding Has Current Raised?
- Series D Round
- Amount Raised: $200 million
- Date: December 13, 2024
- Purpose: Expand product offerings, enhance mobile banking platform, and grow user base nationwide.
Total Funding Raised: $588 million
Latest Funding Date: December 13, 2024
Latest Known Valuation: $2.2 billion
Employee Count: 51–200 (as of Jul 01, 2024)
Key Investors
- Wellington
- Details: Global investment management firm supporting growth-stage technology companies.
- Focus Areas: Financial services, fintech, and digital banking platforms.
- Sapphire Ventures
- Details: Venture capital firm investing in transformative technology companies.
- Focus Areas: Fintech, SaaS, and consumer-focused digital services.
Where Is Current’s Headquarters?
Current is headquartered in New York City, New York, United States, where it develops its banking platform, mobile applications, and innovative fintech services.
What’s Next for Current?
Current aims to expand its digital banking services, enhance automation and savings features, and grow its user base across the U.S. The company plans to introduce new financial products, strengthen teen banking and cashback programs, and continue leveraging technology to make banking simpler and more accessible.
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