The CMFG Ventures-backed challenger bank’s latest round valued it at $2.2bn and pushed its total funding past $400m.

Current, a US-based online banking technology developer backed by insurer Cuna Mutual, has raised $220m in a series D round led by venture capital firm Andreessen Horowitz.

Sapphire Ventures, Avenir Growth Capital, Expa, Foundation Capital, Tiger Global Management, TQ Ventures and Wellington Management also took part in the round. The cash was secured at a $2.2bn valuation and the company said its overall funding now stands at more than $400m.

Founded in 2015, Current operates a retail bank aimed at…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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