About Current
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.
New York City, New YorkHeadquarters
2015Year Founded
$381.9MTotal Funding
SERIES_DCompany Stage
Fintech, Financial ServicesIndustries
201-500Employees
Benefits
Competitive salary
Equity
Discretionary bonus program
Flexible vacation policy
Medical, dental, & vision
Commuter benefits
Risks
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.
Differentiation
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.
Upsides
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.
Funding
Total raised$381.89 M
Latest valuation$2.20 B
StageSERIES_D
SERIES C
10/31/2020$131
$750.00 M$32
$160.00 MSERIES A
1/31/2018$1
$5.00 M$4
$18.00 M