Current | |
Company type | Private |
Industry | Banking, finance |
Founded | 2015 |
Founder | Stuart Sopp |
Headquarters | , |
Services | Financial transaction processing Finance and insurance Credit card service |
Website | www |
Current (Finco Services, Inc.) is an American financial services and software development company (FinTech) based in New York City.[1] It provides mobile banking services through its partner bank, Choice Financial Group.
Current was founded by Stuart Sopp at June 2015.[2] In 2020, the Wall Street Journal reported a valuation of $750 million, and reported that Current "is the latest beneficiary of this trend [toward mobile consumer banking]".[3]
Current has no physical branches. As of 2022[update], Current had over 4 million account holders.[4] Account-holders are issued Visa debit cards and have access to an online banking system accessible via the mobile app for Android or iOS.
Like competitors Chime and Square, it was also the beneficiary of the 2020 COVID pandemic, which drove consumers away from brick-and-mortar alternatives.[5] As of April 2021, its valuation stands at $2.2 billion.[6]