Funding round
Current Seed
Current, which works in mobile banking platform development in New York, raised $3.6M in a Seed round announced on 1 Mar 2017. 3 firms took part. It is Current's first venture round on record.
$3.6M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
Current did not disclose a valuation in this round. It is Current's first venture round on record, 2 years after it was founded in 2015. It is under 1% of the $675M Current has raised in the venture rounds on record. Current raised again 7 months later: a Series A round of $20M in Oct 2017. Its next priced round, a Series C in Nov 2020, valued it at $750M.
Current's funding rounds
Current has 7 venture rounds on record. This one is highlighted.
- Seed this round 1 Mar 2017 $3.6M
- Series A 1 Oct 2017 $20M
- Series B 24 Oct 2019 $20M
- Series C 24 Nov 2020, led by Tiger Global $131M$750M post-money
- Series D 27 Apr 2021, led by Andreessen Horowitz $220M$2.20B post-money
- Growth 13 Dec 2024 $200M
- Series E 11 Jun 2026, led by Springcoast Capital Partners $80M$1.50B post-money
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- backs 46 venture-backed companies new investor
- backs 25 venture-backed companies new investor
- Future Perfect Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Seed rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 1 Dec 2016 | undisclosed | not disclosed | not named |
| Banks & ATMs | 1 Sep 2016 | $2.0M | not disclosed | not named |
| Banks & ATMs | 25 Jul 2016 | $2.0M | not disclosed | Passion Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Current raise in its Seed round?
Current raised $3.6M in its Seed round, announced in Mar 2017.
Which investors took part in Current's Seed round?
Expa, Human Ventures and Future Perfect Ventures.
What was Current's valuation at the Seed round?
It was not disclosed.
Did Current raise again after this round?
Yes: a Series A round in Oct 2017 of $20M.