Current Valuation, Funding & Investors

Current is valued at $1.5B as of June 2026.

Last Current valuation

$1.5B

Series E · Jun 2026

Last Current funding round

$80M

Series E · Jun 2026

Cumulative funding Current raised

$682M

across 6 funding rounds

Key investors in Current

  • Wellington Management
  • Foundation Capital
  • QED Investors
  • TQ Ventures
  • Avenir
  • Elizabeth Street Ventures

Current Overview

About Current

Current is a San Francisco-headquartered fintech company offering a mobile banking app for underbanked Americans. The platform provides fee-free checking accounts, high-yield savings, instant transfers, and credit-building tools integrated with Visa debit cards. Launched in 2019, it supports over 5 million users with features like early direct deposit and family banking sub-accounts. Partnerships with Visa and Green Dot Bank underpin its infrastructure, while investments from Andreessen Horowitz and General Catalyst fuel expansions into teen banking and rewards programs.


Founded

2015

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2C

Revenue model

Usage-based

Valuation

$1.5B (Jun 2026)

Current Valuation

Current is currently valued at $1.5B, based on its Series E in June 2026.

The $80M round was led by Springcoast Capital Partners, with participation from General Catalyst, Wellington Management, QED Investors, Andreessen Horowitz, Cross River Bank and 4 other investors.

Current's valuation has grown 2.0x from $750M at its Series C in November 2020 to $1.5B in June 2026, across 3 priced rounds.

Current valuation by funding round

Current valuation by funding round
DateStageValuation
Jun 2026Series E$1.5B
Apr 2021Series D$2.2B
Nov 2020Series C$750M

Current Funding History

Current has raised a total of $682M across 6 funding rounds.

Current's first fundraising round was a $20M Series A in October 2017. The most recent completed round was a $80M Series E in June 2026.

Current funding rounds

Current funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Series ESpringcoast Capital Partners (lead); General Catalyst; Wellington Management; QED Investors; Andreessen Horowitz; Cross River Bank; Tiger Global; Avenir; Sapphire Ventures; Foundation Capital$80M$1.5BAndreessen Horowitz raised over USD 15,000 million across a new set of funds in January 2026, including a USD 6,750 million growth fund, USD 1,700 million apps fund, USD 1,700 million infrastructure fund, USD 1,176 million American Dynamism fund, USD 700 million bio + health fund, and USD 3,000 million in other venture strategies. The firm said the capital will support investments across AI, infrastructure, defense, biotech, and related venture strategies, and the raise brought its assets under management to more than USD 90,000 million. The firm is known for early backing of Facebook, Coinbase, and Airbnb and continues to deploy capital through a broad platform spanning growth, AI, defense, crypto, fintech, and enterprise software. Current public reporting indicates the raise is the firm’s largest to date and one of the biggest venture fundraises ever, with Reuters noting the firm oversees more than USD 90,000 million in assets across all funds.
Dec 2024Undisclosed stageGeneral Catalyst; Wellington Management; Elizabeth Street Ventures; Andreessen Horowitz; Avenir$200M-Current is a New York-based consumer fintech banking platform founded in 2015, offering integrated financial solutions for everyday Americans, including faster paycheck access, savings pods, secured charge cards, earned wage access, spending insights, and credit-building tools through everyday purchases. Banking services are provided by Choice Financial Group and Cross River Bank. In December 2024, Current announced record-breaking growth in 2024, including revenue increasing over 90%, and secured $200 million in new capital from investors Andreessen Horowitz, Wellington Management, Avenir, General Catalyst, and Cross River to accelerate growth, enhance product offerings like higher limits on earned wage access, intensify user acquisition, and achieve profitability in 2025. The funding round builds on prior raises, such as a $131 million Series C in 2020 and a $220 million Series D in 2021 that valued the company at $2.2 billion, with continued support from longstanding investors and new strategic participants signaling confidence in Current's product-market fit and unit economics. CEO Stuart Sopp emphasized the platform's synergistic solutions addressing liquidity and credit access for millions struggling financially. General Catalyst's Roy Mabrey highlighted Current's scalability and market gap-filling potential. Current operates in the evolving fintech landscape, focusing on accessible banking amid demand for innovative tools resonating with consumers, positioning it for further expansion into 2025.
Apr 2021Series DAndreessen Horowitz (lead); Wellington Management; Elizabeth Street Ventures; Invus Opportunities; Expa; Tiger Global; Avenir; Sapphire Ventures; Foundation Capital; TQ Ventures$220M$2.2B-
Nov 2020Series CTiger Global (lead); Bienville Capital; Wellington Management; Rashaun Williams; QED Investors; Avenir; Sapphire Ventures; Foundation Capital; TQ Ventures$131M$750M-
Oct 2019Series BWellington Management (lead); Elizabeth Street Ventures; Galaxy Interactive; TruStage Ventures; EOS VC Fund; QED Investors; Expa; Foundation Capital; AAF Management Ltd.; TQ Ventures$31M--
Oct 2017Series AQED Investors (lead); Edward Lando; Elizabeth Street Ventures; Human Ventures; Expa; Cota Capital; Fifth Third Bank; AAF Management Ltd.; TQ Ventures$20M-Current is a financial technology company building a mobile, digital-first payments platform free of traditional banking constraints, with a focus on families and particularly teens as mobile and digital natives. On October 25, 2017, Current announced it raised $5 million in a Series A funding round led by QED Investors, with participation from Cota Capital; in conjunction with the investment, QED's Founding Partner Frank Rotman joined Current's Board of Directors. QED Investors is a venture capital firm focused on early-stage disruptive financial services companies in the U.S., U.K., and Latin America, bringing hands-on operational experience to portfolio companies. The Series A investment was described as assembling strong business partners who believe in Current's vision and provide experience, counsel, and resources. The announcement highlights the timing for a family banking product enabled by smartphones and digital payments, positioning Current against traditional banks with legacy infrastructure.

Who has invested in Current?

24 investors have backed Current across its funding rounds, including Wellington Management, Foundation Capital, QED Investors, TQ Ventures, Avenir and Elizabeth Street Ventures.

Lead investors include Springcoast Capital Partners, Andreessen Horowitz, Tiger Global, Wellington Management and QED Investors.


Current Investors

Investors in Current by funding rounds participated
InvestorHQRoundsRoleFirst check
Wellington ManagementUnited StatesBoston, MA5LeadOct 2019
Elizabeth Street VenturesUnited StatesNew York City, NY4ParticipantOct 2017
QED InvestorsUnited StatesAlexandria, VA4LeadOct 2017
AvenirUnited StatesNew York City, NY4ParticipantNov 2020
Foundation CapitalUnited StatesSan Francisco, CA4ParticipantOct 2019
TQ VenturesUnited StatesNew York City, NY4ParticipantOct 2017
Andreessen HorowitzUnited StatesSan Francisco, CA3LeadApr 2021
ExpaUnited StatesSan Francisco, CA3ParticipantOct 2017
Tiger GlobalUnited StatesNew York City, NY3LeadNov 2020
Sapphire VenturesUnited StatesAustin, TX3ParticipantNov 2020
General CatalystUnited StatesSan Francisco, CA2ParticipantDec 2024
AAF Management Ltd.United StatesUnited States2ParticipantOct 2017
Bienville CapitalUnited StatesNew York City, NY1ParticipantNov 2020

This data is available for Pro users. Sign up to see all 24 Current investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Current Competitors

Current competitors include listed companies like Wealthfront and Kbank, and private ones like Tyme Group, Boost, D360 bank and Lumin Digital.

Public and private companies comparable to Current
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Tyme GroupSouth AfricaJohannesburgPrivate$168M-$1.5B8.9x
BoostMalaysiaKuala LumpurPrivate--$1.5B-
WealthfrontUnited StatesUnited StatesPublicly listed$365M($93M)$1.6B4.2x
D360 bankSaudi ArabiaRiyadhPrivate--$1.6B-
Lumin DigitalUnited StatesSan Francisco, CAPrivate--$1.6B-
KbankSouth KoreaSouth KoreaPublicly listed$461M-$1.6B4.2x

Current Public Comps

Current is still privately-owned, but its public comps include Wealthfront, Kbank, PicPay, Agibank, Superbank Indonesia, Forbright Bank, Wema Bank, Judo Bank, Green Dot and Bank Jago.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Wealthfront$365M($93M)4.3x4.2x(17.0x)9.9x
Kbank$461M-3.5x4.2x--
PicPay$1.2B$205M1.0x0.5x6.0x3.8x
Agibank$1.3B$227M0.8x0.6x4.4x5.3x
Superbank Indonesia$89M-10.8x---
Forbright Bank$325M-2.9x---
Wema Bank$312M-2.8x---
Judo Bank$368M-2.2x2.1x--

This data is available for Pro users. Sign up to see all Current competitors and their valuation data.

Start Free Trial

Common questions about Current

When was Current founded?Current was founded in 2015.
Where is Current headquartered?Current is headquartered in New York City, NY, United States.
Is Current publicly listed?No, Current is a private, VC-backed company.
What is Current's valuation?Current was last valued at $1.5B in its Series E in June 2026.
How much funding has Current raised?Current has raised $682M across 6 funding rounds.
What was Current's last funding round?Current's last funding round was a $80M Series E in June 2026, led by Springcoast Capital Partners.
Who are Current's investors?Current's investors include Wellington Management, Elizabeth Street Ventures, QED Investors, Avenir, Foundation Capital, TQ Ventures, Andreessen Horowitz, Expa, Tiger Global, Sapphire Ventures and 14 others.
Which companies are comparable to Current?Companies comparable to Current include Tyme Group, Boost, Wealthfront, D360 bank, Lumin Digital and Kbank.

See companies similar to Current

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial