Raised 500 million U.S. dollars to become the UK’s highest fintech company by market capitalization.
According to foreign media FinSMEs Reported in the UK Revolut Raised 500 million USD in Series D financing, led by US investment company TCV. So far, the company has raised a total of US $ 836 million in capital, with a valuation of US $ 5.5 billion. In this round of financing, the company will use it to provide loan services to customers, expand high-interest savings accounts outside the UK, further improve customer service and conduct banking business in Europe.
Revolut is a fintech platform. Founded in 2015 and headquartered in London, England, co-founded by Nikolay Storonsky and Vlad Yatsenko, it has advantages in pricing transfer funds and other services.
Revolut users don’t have to pay high fees to provide banking services based on mobile applications. Revolut has also added new features to its applications, including cryptocurrency and stock trading, and savings products. The company has also obtained a European banking license from the Central Bank of Lithuania to provide more financial services.
Revolut official website
So far, the company has a customer base of more than 10 million users and more than 2,000 employees in 23 offices. The company’s business coverage covers multiple markets including the United Kingdom, Europe, the United States, Australia and Singapore.
Revolut’s main business is a range of services in the UK, but the company is also actively expanding overseas. Currently, RevolutIt has established partnerships with payment giants such as Visa and MasterCard, and the company also plans to enter the US and Japanese markets this year.
Revolut’s competitors include UK Mobile Banking Monzo and UK Challenger Bank Starling bank . Among them, Monzo’s business model requires users to use the Monzo account as their main bank account in order to make money from it. Monzo collects data from a large number of users, so they can recommend suitable products or services from various providers and charge corresponding commissions. Starling Bank obtained a banking license in 2016, has opened 1.25 million accounts, and promised to provide 1 billion euros of lending to small and medium-sized enterprises by the end of 2023.