Fintech startup Revolut simply announced that it has raised $80 million as part of its Series D round that it announced in February. The brand-new influx of funding comes from TSG Customer Partners. In February, Revolut raised a $500 million led by TCV at a$5.5 billion valuation. Today’s new funding extends that funding round to $580 million– the business says the valuation
stays the very same. If you’re not knowledgeable about Revolut, the business is building a monetary service to change conventional savings account. You can open an account from an app in simply a few minutes. You can then get, send and invest cash from the app or use a debit card. Revolut also lets you exchange currencies.
The start-up broadened beyond that simple function set and now wants to become a financial hub, an extremely app for all things associated with money. You can guarantee your phone, get a travel medical insurance plan, buy cryptocurrencies, purchase shares, donate to charities and conserve cash from Revolut.
The business states it’ll use the investment to add brand-new functions in the U.S. and present banking operations across Europe– you can expect regional banking details in multiple European nations. Eventually, Revolut likewise plans to offer credit items throughout Europe.
In addition to that, Revolut is working on a membership management tool. It lets you see all your active subscriptions, cancel them from Revolut and receive informs when a free trial ends.
There are now 12 million signed up users on Revolut.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.