Current, a US provider of a debit card for teens, raised $5m strategic investment from Fifth Third Capital.
This brings the total capital raised by the company in Series A funding to $10m.
Fifth Third Capital is a direct equity investment subsidiary of Fifth Third Bancorp (NASDAQ: FITB).
Led by Founder and CEO Stuart Sopp, Current provides a mobile application linked to a physical debit card to enable teens to connect their money with the people, brands and experiences they value.
Features include control over spending, the ability to check their balance at any time, and built-in tools to save money. Parents can get visibility into their teenagers’ activity and a suite of parental controls.