Revolut, a London, UK-based global fintech platform, raised $500m in in Series D funding.
The round, which brought the total amount raised by the company to $836m and valued it at $5.5 billion, was led by TCV, with a number of existing investors also participating.
The company intends to use the funds to further strengthen product development in existing markets, roll-out banking operations in Europe and increase daily engagement. Future plans include:
- lending services for retail and business customers,
- extending high interest savings accounts beyond the UK,
- further improving customer service and rolling out banking operations across Europe.
Led by Chief Executive Officer Nik Storonsky Revolut is a global financial platform which gives people the tools to spend, invest and transfer money. Since launching in 2015 in the UK, Revolut has expanded beyond its origins as an FX product, adding new features all the time, including Commission-Free Stock Trading, Cryptocurrencies, Business Accounts and more. The company now has over 10 million customers worldwide, employs over 2,000 people in 23 offices.