Current Secures $80 Million In Series E Funding At $1.5 Billion Valuation From Multiple Investors

Current, the NYC-based consumer fintech platform, raised $80 million in a Series E round. The investment was led by Springcoast Partners, with participation from notable firms including Andreessen Horowitz, Tiger Global Management, Avenir Growth, Foundation Capital, Wellington Management, Sapphire Ventures, and QED Investors.

Summary of transaction details:

• Deal Type: Series E
• Transaction Amount: $80,000,000
• Valuation: $1,500,000,000
• Headquarters: New York City
• CEO: Stuart Sopp
• Investors: Springcoast Partners, Andreessen Horowitz, Tiger Global Management, Avenir Growth, Foundation Capital, Wellington Management, Sapphire Ventures, QED Investors

Under the leadership of CEO Stuart Sopp, Current aims to enhance its product innovation and expand its offerings in banking, payments, liquidity, and credit services. The funding will support a deeper partnership with Cross River, enabling the company to scale its lending capacity amidst increasing demand for financial services.