Revolut today announced their Series C fundraise of $250M, led by Hong-Kong based DST Global. Revolut will be using the funding to expand worldwide, taking on the United States, Canada, Singapore, Hong Kong and Australia in 2018. It is also significantly expanding its workforce.
Balderton first invested in Revolut as part of their seed round just three years ago, in 2015. We then led their Series A and participated in their Series B in the summer of 2017.
The raise comes on the back of tremendous growth for Revolut. The firm is now processing $1.8B through the platform every month, and is signing up 6,000 – 8,000 new customers a day. Its suite of products has seen significant expansion from its original remit of offering currency transfers, to include physical and virtual debit cards, and direct debits as well as partnerships that offer travel insurance, phone insurance, credit, savings and cryptocurrency. Its stated goal is to reach 100M customers within five years.
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