Digita banking startup Current raised $ 220 million in a Series D round led by Andreessen Horowitz catapulting its valuation to $2.2 billion just five months after its previous round. The startup has raised over $400 million in total funding till date.
Andreessen Horowitz led the round with significant participation by existing investors Tiger Global Management, TQ Ventures, Avenir Growth Capital, Sapphire Ventures, Foundation Capital, Wellington Management and EXPA.
Founded in 2015 by Stuart Sopp, Current offers mobile payments, online banking, and financial services. The company said that the current fundraise follows a year of tremendous growth after signing on three million members, a significant bump from the one million mark it reached just last summer, and it also expanded its creator partnerships.