Failed 2025
Current
Neobanks targeting teens and underbanked users face high churn, low revenue per user, and regulatory complexity.
Founded → Closed
2015 → 2025
Funding Raised
$400M
Industry
Fintech/Neobank
Country
USA
IdeaProof AI Failure Score
68/100
Market Fit Risk
50
Burn Rate Risk
80
Founder Risk
25
Full Analysis
Current was a mobile banking app targeting Gen Z and underbanked consumers, reaching 4 million accounts. Despite $400M in funding, revenue per user was extremely low (most users kept minimal balances), customer acquisition was expensive, and regulatory compliance costs mounted. The company struggled to reach profitability and downsized significantly by 2025.
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