Revolut, a London, UK-based provider of a banking app, closed its $250m Series C funding round.
The round was led by Hong-Kong based DST Global with participation from existing investors Index Ventures and Ribbit Capital.
The company, which is now valued at $1.7 billion, intends to use the capital to hire engineers and designers, to launch new features, and to scale the company in the United States, Canada, Singapore, Hong Kong, Australia and New Zeland this year, with many more countries in the pipeline.
Co-founded in 2013 by Nikolay Storonsky and Vlad Yatsenko, Revolut provides a secure, mobile-based current account that allows users to hold, exchange and transfer without fees in 25 different currencies.
The company is also offering Revolut Crypto, featuring Bitcoin (BTC), Litecoin (LTC), Ether (ETH), Ripple (XRP) and Bitcoin Cash (BCH), Revolut Platinum, an improved solution for everyday banking, offering a bespoke contactless metal card made entirely from stainless steel and coated with a custom shade of metallic black paint, and Revolut Wealth, which allows users to invest their funds into stocks, indexes and exchange traded funds (ETFs), alongside a variety of other financial instruments.