About Current
Current is a company based in New York (United States) founded in 2015 by Stuart Sopp. It operates as a FinTech, and Subscription Services. Current has raised $587.85 million across 8 funding rounds from investors including Cross River, Fifth Third Bancorp and Foundation Capital. Current offers products and services including Paycheck Advance, Fee-free Overdraft, Faster Direct Deposit, Credit Building, and Crypto Trading. Current operates in a competitive market with competitors including Spectrum, DIRECTV, Tata Play, M7 Group and DishTV, among others.
- Headquarter New York, United States
- Founders Stuart Sopp
- Stage Unicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Finco Advance Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$587.85 M (USD)
in 8 rounds
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Latest Funding Round
$200 M (USD), Series D
Dec 13, 2024
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Investors
Cross River
& 17 more
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Employee Count
Employee Count
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Products & Services of Current
Current offers a comprehensive portfolio of products and services, including Paycheck Advance, Fee-free Overdraft, Faster Direct Deposit, Credit Building, and Crypto Trading. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Paycheck advances up to $750 are provided.
Fee-free overdraft protection is offered to customers.
Direct deposits are processed up to two days early.
Credit score improvement is supported with no fees.
Cryptocurrency trading is enabled without additional fees.
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Software Development Team
24 people
Sales and Marketing
10 people
Product Management Team
10 people
Legal and Compliance
8 people
Finance and Accounting
7 people
Leadership Team
4 people
Senior Team
4 people
Human Resources and Administration
3 people
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Funding Insights of Current
Current has successfully raised a total of $587.85M across 8 strategic funding rounds. The most recent funding activity was a Series D round of $200 million completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Series D — $200.0M
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First Round
First Round
(07 Mar 2017)
- Investors Count 18
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2024 | Amount | Series D - Current | Valuation |
investors |
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| Apr, 2021 | Amount | Series D - Current | Valuation | a16z | |
| Nov, 2020 | Amount | Series C - Current | Valuation | Tiger Global Management |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Current
Current has secured backing from 18 investors, including venture fund and institutional investors. Prominent investors backing the company include Cross River, Fifth Third Bancorp and Foundation Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Founded Year | Domain | Location | |
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Growth equity investments are made by the private equity firm.
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Founded Year | Domain | Location | |
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Investment and transformation services for entrepreneurs in technology and finance sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Current
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Current
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Current Comparisons
Competitors of Current
Current operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Spectrum, DIRECTV, Tata Play, M7 Group and DishTV, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Spectrum is recognized as a provider of internet, mobile, TV, and home phone services.
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| domain | founded_year | HQ Location |
Direct broadcast satellite service provider
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| domain | founded_year | HQ Location |
DTH and TV broadcasting services are delivered across India.
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| domain | founded_year | HQ Location |
Satellite service provider in Luxembourg
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| domain | founded_year | HQ Location |
Satellite broadcasting and direct-to-home TV distribution services are offered.
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| domain | founded_year | HQ Location |
Cable TV, internet, telephony, and VOD content services provider
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Current
Frequently Asked Questions about Current
When was Current founded?
Current was founded in 2015 and raised its 1st funding round 2 years after it was founded.
Where is Current located?
Current is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Current?
Stuart Sopp is the current CEO of Current. They have also founded this company.
Is Current a funded company?
Current is a funded company, having raised a total of $587.85M across 8 funding rounds to date. The company's 1st funding round was a Series C of $131M, raised on Mar 07, 2017.
What does Current do?
Current is established as a financial technology company, not a traditional bank, providing innovative banking solutions. Services such as paycheck advances up to 750, fee-free overdraft protection, and early direct deposits are offered. Credit building tools and cryptocurrency trading without fees are also provided. Banking services are facilitated through partnerships with Choice Financial Group and Cross River Bank, both FDIC members. The focus is placed on digital banking within the financial sector, targeting individuals seeking modern financial management tools.
Who are the top competitors of Current?
What products or services does Current offer?
Current offers Paycheck Advance, Fee-free Overdraft, Faster Direct Deposit, Credit Building, and Crypto Trading.
Who are Current's investors?
Current has 18 investors. Key investors include Cross River, Fifth Third Bancorp, Foundation Capital, Andreessen Horowitz, and Wellington.
What is Current's valuation?
The valuation of Current is $2.2B as of Apr 2021.
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