Well 2020 was certainly not the year anyone was expecting but for all the tribulations - not to mention being in the epicenter of a pandemic - above all, we’re extremely proud that we were able to deliver on our promises to get our members faster and better access to their money, especially at a time many needed it most.
So what happened this year at Current? (In no particular order)
- Over $100 million: Amount we saved our members in overdraft fees in just eight months
- Over 2 million: Number of Current members! A LOT more people joined Current
- Over 20,000: Number of merchants where our members earned Points
- Over 30,000: Locations where our members deposited cash
- Over 55,000: Number of in-network free ATMs for Current members
- $1,200 + $600: Amount of individual stimulus payments in April and December, respectively, which we were first fintech in the country to credit immediately for our members both times.
- Well, COVID-19: It became an accelerator to digital banking AND we were in the epicenter in NYC, about a third of us at Current became sick (but we all are now healthy and safe!) and we gave back to our community, donating our supply of KN95 masks to New York Presbyterian Hospital, which was in need of supplies, in support of our Chief Technology Officer Trevor Marshall, whose parents are both doctors there.
- We were nimble: After stimulus payments were approved in April, we quickly built a dedicated section on the homepage of the Current app to educate our members and provide them tools to apply for their payments. We built another section for applying for unemployment benefits with links to every state’s department of labor (and got them all their money up to two days faster).
- $131 million: Amount we raised in our Series C, to improve more financial outcomes, led by Tiger Global Management with Sapphire Ventures, Avenir, Foundation Capital, Wellington Management Company and QED Investors
- Last and actually the MOST important: We delivered on our promises to our members to get them faster and better access to their money, from stimulus five days faster to unemployment to getting them cash back on everyday purchases. For Americans who live paycheck to paycheck, the extra funds in their pockets by even a day can mean the difference between buying groceries, paying bills on time - or not - and we’re proud to have been there for them at a time many needed it most.
We can’t wait to do MORE in 2021.