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About Current
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$381.9M
Headquarters
New York City, New York
Founded
2015
Overview
Current provides digital banking services aimed at making banking more accessible and affordable for a wide range of users, including teenagers. Its main product is a custom-built banking technology called Current Core, which allows for faster transactions and greater stability. Users benefit from features like early direct deposits, free overdraft protection, cash back rewards, and mobile banking capabilities, including check deposits and automated savings. Current differentiates itself from competitors by focusing on premium services without hidden fees and by offering specialized services for teens. The company's goal is to improve financial outcomes for its members by providing a user-friendly banking experience.
Simplify's Take
What believers are saying
- Current secured $200M in 2024 to enhance product offerings and growth.
- The rise of Gen Z and Millennials boosts demand for Current's digital banking.
- Current's subscription model aligns with the growing trend of subscription-based services.
What critics are saying
- Increased competition from emerging fintech startups could erode Current's market share.
- Regulatory scrutiny on digital banking platforms may increase compliance costs for Current.
- Cybersecurity threats pose risks to user data and trust in Current's platform.
What makes Current unique
- Current offers specialized teen banking services, setting it apart from competitors.
- The Current Core technology ensures faster transactions and cost efficiencies for users.
- Current provides unique features like gas hold refunds and early direct deposits.
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Funding
Total Funding
$381.9M
Above
Industry Average
Funded Over
5 Rounds
Tiger Global
Andreessen HorowitzIndustry standards
Benefits
Competitive salary
Equity
Discretionary bonus program
Flexible vacation policy
Medical, dental, & vision
Commuter benefits
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↓ -1%Current, a fintech platform, announced a 90% revenue increase in 2024 and secured $200 million in new capital to accelerate growth and achieve profitability by 2025. The funding round included existing investors like Andreessen Horowitz and new ones like General Catalyst. The capital will enhance product offerings such as faster paycheck access and credit-building cards. Current aims for continued rapid growth and product expansion, supported by strategic investments and partnerships.
The Current announced a "multiyear deal" with the United Way of Greater Kansas City as the club's front kit sponsor in January.
The Current announced the appointment of Raven Jemison as new team president on Thursday morning.
In exchange, the Current will receive $75,000 in allocation funds and complete expansion draft protection, which means Utah can't select any Kansas City players in the draft.
The Current receive $175,000 in allocation money and expansion draft protection.
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About Current
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Series D
Total Funding
$381.9M
Headquarters
New York City, New York
Founded
2015
Current is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today