20 July 2017
visit www.avoka.com

Current preps debit card and app for kids

08 March 2017  |  4407 views  |  0 happy Family

US fintech startup Current has raised $3.6 million as it prepares to roll out an app and card-based allowance management service for parents and their kids.

The round was led by original Current backers Expa and Human Ventures, as well as Future Perfect Ventures and others.

Founded by Wall Street veteran Stuart Sopp, Current describes itself as a new kind of financial services firm, with a banking and payments platform built for the connected world.

Last year the firm rolled out a feature that lets people pay co-workers within Slack, and it says that it plans to let users connect their bank accounts to a host of other social platforms, including Kik, Facebook Messenger and iMessage, in the future.

However, its immediate focus is a debit card that parents can connect to their bank accounts and give to their kids, adding funds through automated or one off transfers.

An app provides notifications, insights into spending and parental controls. Children can use the card wherever Visa is accepted and learn to manage their money in current, savings and 'giving' accounts, the latter designed for putting aside money to give to charity.

In a post on Medium, Sopp says "giving back" is an important part of Current "to help fill the void that traditional banks left behind in shedding the community presence that had underpinned their local growth strategies".

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

POSB combines contactless and wearables to teach kids financial management

POSB combines contactless and wearables to teach kids financial management

25 October 2016  |  7261 views  |  0 comments | 5 tweets | 4 linkedin
CommBank uses virtual reality for kids financial education programme

CommBank uses virtual reality for kids financial education programme

10 October 2016  |  6923 views  |  0 comments | 11 tweets | 10 linkedin
ASB gives piggy bank a digital makeover

ASB gives piggy bank a digital makeover

14 September 2015  |  10185 views  |  0 comments | 16 tweets | 17 linkedin
Osper launches prepaid card and app banking service for kids

Osper launches prepaid card and app banking service for kids

30 June 2014  |  9363 views  |  3 comments | 9 tweets | 15 linkedin
Virtual Piggy checks into Habbo Hotel

Virtual Piggy checks into Habbo Hotel

14 August 2013  |  3897 views  |  1 comments | 2 tweets | 1 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.finastra.comvisit www.abe-eba.euvisit www.www.fisglobal.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
12294 views comments | 19 tweets | 15 linkedin
EPC gears up for pan-European instant paymentsEPC gears up for pan-European instant paym...
9615 views comments | 10 tweets | 28 linkedin
Man trapped in ATM slides 'help me' notes through receipt slotMan trapped in ATM slides 'help me' notes...
9512 views comments | 8 tweets | 20 linkedin
Festy unveils digital currency payments wristbandFesty unveils digital currency payments wr...
8988 views comments | 11 tweets | 7 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
8414 views comments | 14 tweets | 20 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job