Companies
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Current
Fintech
Current is a New York-based fintech company providing a mobile banking app aimed at everyday Americans, particularly younger users and those underserved by traditional banks.
$1.16B
+$8.86
1,054.48%
30 days ago
$0.84
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Current was founded in 2015 by Stuart Sopp and Trevor Marshall, building a mobile-first banking app targeted particularly at working-class Americans and younger users, including teenagers with parental oversight, who the founders argued had been underserved or poorly served by traditional banks, which often charge overdraft and other fees that fall disproportionately on customers living paycheck to paycheck with limited financial cushion. Current's core product includes a mobile checking account with a debit card, positioned around features such as fee-free overdraft up to a certain limit, early access to paycheck deposits before the scheduled pay date, and various savings and budgeting tools designed to help users build better financial habits without the fee structures common at traditional banks that can compound financial stress for lower-income customers. The company, like most fintech "neobanks," operates by partnering with FDIC-insured chartered banks to actually hold deposits and issue its debit card, since Current itself does not hold a banking charter, a common structural arrangement for fintech companies offering banking-like products without becoming regulated banks themselves. Current has particularly emphasized serving younger users through its teen banking product, which lets parents open accounts for their teenage children with parental controls and monitoring, competing in that segment with other youth-focused banking apps such as Greenlight and Copper Banking. The company has also built features around cryptocurrency trading and other financial services, expanding beyond its original checking account core. Current has raised very substantial venture funding from investors including Andreessen Horowitz, TQ Ventures, and Tiger Global, reaching a valuation exceeding $2 billion, competing broadly in the crowded U.S. consumer neobank category alongside companies such as Chime, Varo Bank, and Dave, all targeting similar demographics of consumers seeking lower-fee, more accessible digital banking alternatives to traditional banks.
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