Current's CEO Stuart Sopp founded Current with the belief that banking should be accessible and affordable for everyone. Current brings premium financial services to everyone with a variety of modern lifestyles to help improve their financial outcomes.
|Funding Status:||Series B|
|Location:||New York, New York, United States|
|Number of employees:||51-100|
Target geographic market:
|Products||Mobile banking, Payments, Savings, Teen Banking, Money management|
|Core product offerings for individual/retail customers||A mobile-only checking account (App)|
|Regulators/Compliance||Current is a member of the US’s FDIC through Current’s issuing bank, Choice Financial Group, meaning they have the standard insurance coverage limit of $250,000 per depositor|
|Valuation||Current has a post-money valuation of $75M as of Oct 24, 2019, according to PrivCo|
|Pricing||Personal Accounts: $0 to $4.95/month / Teen Banking: $36/year per teen|
|The Base Currency||$ (USD)|
|Product cost||Basic: $0/mo; Premium: $4.99/mo|
|Money transfers/payments||Foreign transaction fee: 3%|
|ATM withdrawals||$0, 55,000 Fee-Free ATMs, Anywhere Visa is accepted; Out-of-network ATM fee: $2.50|
|Minimum USD deposit required to open (a) a personal account (b) a business account||$0|
|(a) a personal account||Yes|
|Last Funding Date||Oct 24, 2019|
|Last Funding Amount||$31.2M|
|Last Funding Type||Series B|
|Total Funding Amount||$51.4M|
|Number of Funding Rounds||2|
|Customer/Products segments||Banking, payments, savings, money management|
|Key product offering||A mobile-only checking account (App)|
|Banking license||The Current card is issued by Choice Financial Group (Member FDIC) pursuant to a license from Visa U.S.A. Inc.|
|Type of customers||Individuals|
|Number of investors||10|
|Number of lead investors||2|
|Names of lead investors||Wellington Management, QED Investors|
|The technologies that underpin a platform (FX, identity, infrastructure, security, payments gateways, business systems, APIs, etc.)||Current Core|
|Devices supported||iOS, Android|
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