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Announced

Completed

Andreessen Horowitz led a $220 Series D funding round in Current.

Financials

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Transaction Value£158m
Consideration TypeCash
Capital Owned-
Capital Bid For10%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Private Equity

Private

Completed

Venture Capital

Friendly

Acquisition

Banks

challenger bank

United States

Minority

fintech

Synopsis

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Andreessen Horowitz, a venture capital firm, led a $220 Series D funding round in Current, a financial technology company, valuing the company at $2.2bn. The round was joined by Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management and EXPA. "This new generation of customers doesn't want to bank in physical branches. We believe there will be a shift in the next 10 years to mobile and consumer-focused banking services powered by innovation in technology, and with Current's exceptional growth over the past year, they've clearly demonstrated they're at the forefront of this trend," David George, Andreessen Horowitz General Partner.

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