Fintech startup Revolut attracted $500 million at an estimate of $5.5 billion
British financial company Revolut attracted US$500 million at an estimate of US$5.5 billion, writes TechCrunch. TCV Venture Group led round D.
Revolut plans to spend money on expanding services in markets outside the UK, the publication writes. New features may appear both for individuals and for Revolut for Business customers.
Revolut was founded in 2015. The company issues cards with multiple currency accounts and allows you to exchange one currency for another without bank charges. Last time the startup attracted investments in the spring of 2018: US$250 million from DST Global Yuri Milner and others at an estimated US$1.7 billion.
The Telegraph wrote about raising Revolut US$500 million by selling new shares in mid-February 2020. The publication indicated that during the round the startup was valued at US$6 billion. The company itself did not comment on the results of the round.
Based on an estimate of US$6 billion, co-founder and CEO of Revolut Nikolay Storonsky was named a billionaire by Forbes.