Current, the consumer fintech platform, secured $80 million in Series E equity financing at a $1.5 billion valuation led by Springcoast Partners. This funding round builds upon previous backing from Andreessen Horowitz, Tiger Global Management, Avenir, Foundation Capital, Wellington Management, Sapphire Ventures, and QED Investors. The capital injection supports the company's trajectory toward profitability in 2026 and its third consecutive year of growth exceeding 70%.

As part of the investment, Springcoast Partners will join Current's Board of Directors. In conjunction with the financing, Current expanded its financing partnership with Cross River to increase capacity for scaling liquidity and credit products. The company also expanded and extended its existing multi-year commitment from General Catalyst's Customer Value Fund to support continued investment in product and engineering.

Strategic Growth and Financial Position

The financing underscores Current's emergence as a scaled consumer fintech platform in the United States. The company is building operational scale, governance, and a financial profile expected of a public company. Growth has been fueled by significant investments in technology and AI infrastructure, enabling personalized financial experiences at scale while maintaining strong operating leverage.

Investor Commentary

Stuart Sopp, Chief Executive Officer and Co-Founder of Current, attributed the performance to a focus on building products that solve real financial problems. "That focus has driven three consecutive years of more than 70% growth, strong unit economics, and a crossing over to profitability," Sopp said. He noted the investment reflects confidence in the business strength and progress toward public market readiness.

Chris Dederick, Partner at Springcoast Partners, highlighted Current's modern, cloud-native platform and product depth. Holger Staude, Managing Partner at Springcoast Partners, added that the growth demonstrates proven demand for the company's products and the unique value provided to customers.

Key Investment Details

The new capital will support continued investment in product innovation, AI-powered financial services, and the expansion of Current's banking, payments, liquidity, and credit offerings.

Current Infraprojects Limited reported a 77% increase in total income to ₹161.35 crores in FY26, compared to ₹91 crores in FY25, driven by accelerated execution across utility infrastructure and EPC projects. The strong financial performance underscores the effectiveness of the company's strategic transformation into a multi-disciplinary EPC platform. The company submitted the transcript of its earnings call held on June 03, 2026, to the National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Operating EBITDA for the year grew by 58% to ₹23.23 crores from ₹14 crores in the previous year, with margins maintaining a healthy level of 14.48%. Profit after tax (PAT) increased by 49% to ₹14.05 crores in FY26, up from ₹9.5 crores in FY25. The Solar EPC segment was a primary growth driver, registering a 4x increase in revenue to ₹96 crores from ₹25 crores in FY25. The newly commissioned RESCO power plants contributed an inaugural ₹2.90 crores to the consolidated revenue, with secured annual recurring revenue exceeding ₹6 crores.

Financial and Operational Highlights

The order book reached ₹328 crores as of the latest update, representing a significant increase from the previous year. The active project pipeline stands at ₹320 crores, with the Electrical Infrastructure and Utilities vertical commanding a 54% share. Geographically, Rajasthan accounts for 52% of the pipeline, while Kerala has emerged as a significant territory contributing 36%. Management attributed the backloading of revenue to H2FY26 to standard industry practices regarding work capitalization on milestones and the March 31 year-end cutoff.

Future Outlook

Looking ahead to FY27, the company expects revenue to be in the range of ₹200 to ₹250 crores, with operating margins expected to remain stable. The management highlighted the strengthening of the balance sheet post-IPO, which has enabled participation in larger utility and transmission projects. Additionally, the company is actively bidding for RESCO-BESS projects, with a current pipeline of tenders valued around ₹200 crores including solar and BESS projects. The filing was signed by Sonali Nawndher, Company Secretary & Compliance Officer.