Current Media

What Current Media does

Current, operating as Finco Services, Inc., is a U.S. consumer fintech founded in 2017 by Stuart Sopp. The company provides a mobile-first banking platform built on its proprietary in-house core banking technology, "Current Core," targeting paycheck-to-paycheck Americans and younger consumers. Its primary product is an FDIC-insured mobile deposit account (issued through partner banks Choice Financial Group and Cross River Bank) paired with a Visa-branded debit card and a modular suite that includes Paycheck Advance (up to $750 via Finco Advance LLC), fee-free Overdraft Protection for qualifying members, a secured Build Card for credit-building without a credit check, Savings Pods with up to 4.00% APY Boost bonus, fee-free cryptocurrency trading through Zero Hash, Teen Banking, Current Points rewards, and TurboTax-powered in-app tax filing.

The business is monetized primarily through interchange fees on debit and secured credit card transactions, crypto-trading spreads via Zero Hash, data-sharing arrangements with Plaid, and advertising/marketing partnerships. Distribution is entirely mobile via the iOS and Android app stores, with no physical branches; cash deposits are enabled through partner retailers including CVS, Walgreens, and McDonald's. GTM is product-led: self-serve onboarding, app-store discovery, content marketing via The Current Wave blog, original consumer-finance research surveys, and broad social-media presence across Instagram, YouTube, TikTok, X, Facebook, and LinkedIn.

Current is privately held and venture-backed, having raised over $450 million across Series B–E rounds (Series B $20M Oct 2019 led by Wellington Management; Series C $131M Nov 2020 led by Tiger Global at $750M; Series D $220M Apr 2021 led by Andreessen Horowitz at $2.2B; Series E $80M Jun 2026 led by Springcoast Partners at $1.5B). The company reports 6M+ members as of 2026 and 70%+ year-over-year revenue growth for three consecutive years, though it has not publicly disclosed a revenue figure. Note: the input also references a separate historical "Current Media" entity co-founded by Al Gore in 2005 with $15M from Blum Capital and Yucaipa, including its 2004 acquisition of Newsworld International; this appears to be a distinct historical entity conflated with the fintech in source aggregation.

Name

Current Media

Legal name

Finco Services, Inc.

Website

https://current.com

Company type

Private

Founded year

2017

Operating status

Operating

Short description

Current, operating as Finco Services, Inc., is a mobile-first U.S. consumer fintech offering FDIC-insured deposit accounts, fee-free overdraft, paycheck advances, a credit-building secured card, high-yield Savings Pods, and fee-free cryptocurrency trading to over 6 million members, primarily paycheck-to-paycheck Americans and younger users.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

Finance Services (6199), Functions Related To Depository Banking, Nec (6099), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Neobank Core Platform (Retail/SME Digital Bank) (FSAGAAAA)

akta.pro secondary industries

Net Worth & Personal Balance Sheet Tracking (FSAGADAF), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Debt Management & Paydown (Student Loans, Credit Cards) (FSAGADAD), Alternative Data & Credit Scoring (Cashflow, Telco, Utility, Open Banking) (FSAGAHAC)

Keywords

• Mobile banking
• Digital banking
• Credit building
• Fee-free banking
• Neobank services

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interchange Fees: Revenue generated from card transactions when members use their Current Visa Debit Card or Build Card at merchants. Standard interchange fees on each purchase.
2. Crypto Spread Revenue: When users buy or sell cryptocurrency, Current earns revenue through the spread between market price and transaction price, in addition to any trading fees.
3. Plaid Data Services: Data sharing arrangements with Plaid for financial data aggregation services.
4. Advertising and Marketing Partnerships: Revenue from advertising partnerships including campaigns such as the Talker Research surveys for content marketing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Current Media (operating as Current) is a mobile-first fintech platform that delivers fee-free consumer banking through a single iOS/Android application. Its core is an FDIC-insured deposit account issued via partner banks (Choice Financial Group and Cross River Bank) with a Visa debit card, augmented by Paycheck Advance (up to $750), the Build Card for credit building, fee-free Overdraft Protection, Savings Pods with up to 4.00% APY Boost, fee-free cryptocurrency trading via Zero Hash, Teen Banking, and tax filing through TurboTax. All offerings run on Current's proprietary Current Core core banking technology platform.

Product overview

Current is a consumer fintech platform offering a unified mobile banking app with multiple financial products. The core product is the FDIC-insured mobile deposit account (partnered with Choice Financial Group and Cross River Bank, Visa-branded debit card), supplemented by a modular suite: Paycheck Advance (up to $750), Build Card (credit building with cash back), Fee-Free Overdraft Protection, Savings Pods (with up to 4.00% Boost rate), fee-free cryptocurrency trading (via Zero Hash), Teen Banking, Current Points rewards, and TurboTax-powered tax filing. All products are powered by Current's proprietary Current Core technology and accessible through a single mobile-first platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Mobile Banking Account (Core Deposit Account) Primary FDIC-insured mobile banking deposit account offered through Choice Financial Group and Cross River Bank with a Current Visa Debit Card, fee-free overdraft protection for qualified members, direct deposit up to 2 days early, access to 40,000+ fee-free ATMs, instant notifications, card controls, and Face ID/fingerprint/passkey security. Targeted at US consumers seeking a fee-free everyday banking account.
• Paycheck Advance Optional feature offered through Finco Advance LLC that provides eligible Current members access to up to $750 of their paycheck funds before payday, subject to eligibility and qualifying direct deposit requirements.
• Build Card (Credit Building) Secured Visa charge card (issued by Cross River Bank) that helps users build credit without annual fees, interest, or a credit check, with 1% cash back on eligible Dining and Groceries purchases. Build Card users are reported to have improved their credit scores by over 80 points after six months (December 2024 data).
• Fee-Free Overdraft Protection Overdraft cushion for qualified members that covers both debit and credit card transactions up to a designated limit without charging overdraft fees. Requires receiving $200+ in eligible direct deposits over a preceding 35-day period to qualify.
• Savings Pods Goal-based savings sub-accounts with an automated Round-Up feature and a Boost bonus earning up to 4.00% APY on balances up to $2,000 per pod (up to $6,000 total across pods). The base Boost rate is 0.25% for accounts without a qualifying payroll deposit.
• Cryptocurrency Trading In-app buying and selling of dozens of cryptocurrencies with no trading fees, powered by Zero Hash LLC and Zero Hash Liquidity Services LLC (licensed by the New York State Department of Financial Services). Weekly purchase limit of $100,000; no limit on sales.
• Teen Banking Free debit card and banking account for teenagers that gives parents tools to manage automatic allowances, instant transfers, and real-time spending alerts, enabling parental oversight and financial education for teens.
• Current Points Rewards program where members earn points on eligible purchases in Dining, Groceries, or custom categories after receiving a qualifying payroll deposit. Points expire 365 days after settling and can be redeemed within the Current app.
• Tax Filing with TurboTax Integration Partnership with TurboTax (Intuit) enabling members to file federal taxes directly through the Current app via Expert Full Service, Expert Assist, or DIY tiers. Tax refunds deposited to Current are received up to 5 days faster than at traditional banks.

Quantifiable outcome

• Boost credit score by over 80 points after just six months (Build Card users, December 2024 data)
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability1 record

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• VisacoreStrategic or Co-development PartnerExpanded partnership with Visa leveraging their global acceptance, brand, and scale. Current offers Visa-branded debit cards (issued by Choice Financial Group and/or Cross River Bank) that can be used everywhere Visa debit cards are accepted.
• Choice Financial GroupcoreOthersFDIC member bank partner issuing Current Visa Debit Cards and providing deposit accounts. FDIC insurance up to $250,000 available through pass-through coverage on customer deposits.
• Cross River BankcoreOthersFDIC member bank partner issuing Current Visa Debit Cards and Current Visa secured charge card. Provides deposit accounts with FDIC insurance coverage.
• Zero Hash LLCcoreTechnology or IntegrationLicensed virtual currency business providing cryptocurrency services including buying, selling, and custody. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed by NY State Department of Financial Services.
• Finco Advance LLCcoreOthersFinancial technology company (not a bank) offering Paycheck Advance feature to eligible Current customers. NMLS ID: 2670557. Provides access to up to $750 of paycheck funds before payday.
• Finco Licensing LLCminorOthersLicensing entity for Current services. NMLS ID: 2533115.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Albert: Albert is a personal finance app offering banking, savings, investing, and AI-driven financial guidance. Comparable to Current on the mobile-first Gen Z and millennial consumer finance positioning.
• Earnin: Earnin is an earned-wage-access platform offering paycheck advances to hourly workers. Overlaps with Current's Paycheck Advance feature and the same paycheck-to-paycheck customer segment.

Direct peers

• MoneyLion: MoneyLion is a mobile financial platform offering banking, lending, investing, and credit-building. Comparable to Current on the mobile-first consumer finance model and credit-building product (Credit Builder Plus).
• SoFi: SoFi offers a broader consumer finance platform including banking, lending, investing, and credit cards. Overlaps with Current on the digital banking and direct-deposit-driven consumer base, but with a more expansive product suite.
• Cash App (Block): Cash App is a mobile-first peer-to-peer payments and banking platform with Bitcoin trading. Highly comparable to Current on mobile-only distribution, fee philosophy, and integrated crypto offering.
• Chime: Chime is a leading US neobank targeting everyday Americans with fee-free checking, early direct deposit, and credit-building products. Directly comparable to Current on customer demographic, value proposition, and product mix.
• Dave: Dave is a mobile banking app offering paycheck advances, budgeting tools, and fee-free banking to underbanked consumers. Directly comparable to Current's Paycheck Advance and paycheck-focused value proposition.
• Varo Bank: Varo is a digital-only bank charter offering fee-free checking, savings, and credit-building products to underbanked consumers. Closely comparable to Current's mobile-first, paycheck-focused banking model.

Broad incumbents

• Green Dot Corporation: Green Dot is an established fintech and bank holding company offering prepaid debit cards, deposit accounts, and banking-as-a-service. Comparable to Current on the underbanked consumer focus and bank-partner (BaaS) operating model.
• Venmo (PayPal): Venmo is PayPal's mobile payments and debit card platform offering fee-free banking-like features via partner banks. Comparable to Current on the mobile-first consumer payments and card distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GetCurrentTV
• YouTubeyoutube.com/@CurrentCard
• Facebookfacebook.com/SaveCurrentTv
• LinkedInlinkedin.com/company/current
• Instagraminstagram.com/Current
• TikToktiktok.com/@current?lang=en

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Current Media