Current, a digital banking services platform has raised $220M in a Series D, led by Andreessen Horowitz.

HOW’S THE COMPANY PERFORMING?

  • New York-based Current offers mobile banking solutions such as direct deposits, spend notifications, and banking insights, among others. The company started off as a provider for teen banking.
  • One of the company’s earlier design iterations involved cryptocurrency wallet addresses and Ripple gateways, but the team shifted to mobile banking as the technology was too nascent at the time.
  • The company has expanded its creator partnerships in an effort to appeal to its younger customer demographic — with an average customer age of 27.
  • Current boasts 3M users, up from 2M in November 2020. It has 100 employees and plans to increase it to 200 or 300 in next 18 months.

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The post Andreessen Horowitz-Backed Current Raises $220M To Expand Digital Banking appeared first on CB Insights Research.

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