Revolut, a London, UK-based global money app, closed a £3.2m (approx. $4.8m) seed funding round.
Index Ventures invested £1m, joining prior backers Balderton Capital, Seedcamp, Point Nine, Venrex and some angels.
The company intends to use the funds to continue growing its presence across Europe with translation and customer support in key languages planned, focus on product development, working to add new top-up currencies and features to the app such as a savings calculator and exportable statements.
Publicly launched in July 2015 by Nikolay Storonsky, CEO, Revolut provides a global money app that allows people to exchange currencies at perfect interbank rates, send money through social networks and spend with a multi-currency card (RevolutCard™) which works like a normal debit card but with zero charges and no hidden fees.
The service, just updated, now has 100,000 users.