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Current is chasing bigger competitors including Chime and Square's Cash App by providing inexpensive financial services though a mobile app. The migration in banking to digital services, which has been underway for years, accelerated during the coronavirus pandemic. Sopp said the company now has almost 3 million customers after hitting the 1 million mark last year. The fundraising shows that Current belongs in the same conversation as other leading digital banks that are threatening established institutions, said Sopp, a former Morgan Stanley trader who founded Current in 2015. It also shows ...

Current, a NYC-based U.S. mobile banking company, raised $220m in Series D funding in a round valuing it to $2.2 billion.  New investor Andreessen Horowitz led the round bringing total funding raised to date to over $400m, with participation from returning investors Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management and EXPA. The company intends to use the funds to expand its business reach and development efforts. Led by Stuart Sopp, CEO and Founder, Current is a financial technology company providing nearly three million members ...

  Current, a leading U.S. financial technology company serving Americans who are working to create a better future for themselves, announced today it has raised $220 million in Series D funding and tripled its valuation to $2.2 billion in just five months. New investor Andreessen Horowitz led the round for the financial platform, which has now raised over $400 million in total funding. Current has raised $220 million in Series D funding led by new investor Andreessen Horowitz and tripled its valuation to $2.2 billion. The fundraise follows a year of tremendous growth for Current, which has n...

5 Min Read (Reuters) - Digital banks including Chime, Varo and Current have won over more U.S. customers during the coronavirus pandemic by processing stimulus payments quickly, setting them apart from traditional banks and generating valuable word-of-mouth referrals. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won (SOUTH KOREA - Tags: BUSINESS)/File Photo In some cases, the companies pre-funded deposits they expected their customers to receive from the Treasury Department. In others, they received funds qu...

Digital banks including Chime, Varo and Current have won over more U.S. customers during the coronavirus pandemic by processing stimulus payments quickly, setting them apart from traditional banks and generating valuable word-of-mouth referrals.