Revolut Raises $66m in Series B Funding

Revolut, a London, UK-based provider of a consumer and business banking app, raises $66m in Series B funding.

Backers included Index Ventures, Balderton Capital and Ribbit Capital.

The company intends to use the funds to continue to develop its business and consumer products, introduce new features and to take it global, starting with Asia and North America.

Co-founded by CTO Vlad Yatsenko and CEO Nicolay Storonksy, Revolut provides a mobile app that allows consumers and businesses to set up a current account in a few minutes, spend fee-free globally with the interbank exchange rate, send free international money transfers to any bank in the world and control everything from within the pocket.
Launched in 2015, Revolut has signed up 700,000 customers across Europe and transacted over $3.3 Billion.

The company plans to add new features including the possibility to open a personal EUR account soon, buy and spend Cryptocurrencies in-app and invest spare change in company stocks and bonds with its new Wealth product.



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