The fintech revolution has been rapidly gathering momentum over the past decade, and one of the most successful digital banking startups, Revolut, recently raised a staggering $361M during its Series C funding round. This news was followed by a revolut 361m 277m being raised in a Series D funding round, raising the total valuation of the company to an impressive $5.5B. In this article, we will be exploring the impact of these funding rounds on Revolut and the industry as a whole.
Background of Revolut:
Revolut is a UK-based digital banking startup that offers a range of services, including instant money transfers, savings and lending products, as well as cryptocurrency and stock trading. Founded in 2015, the company set out to disrupt and revolutionize traditional banking and has experienced massive growth in the years since. The company now has over 12 million customers in Europe alone and is looking to expand further in the near future.
Breakdown of Revolut’s $361M Series C Funding Round:
In December 2020, Revolut raised a mammoth $361M during its Series C funding round, with participation from a variety of financial institutions and venture capitalists. This funding round was led by DST Global, with additional participation from Ribbit Capital, TCV, and the London based venture capital firm Draper Esprit. This investment round values the company at an impressive $5.5B, up from $1.7B in its previous funding round.
Breakdown of Revolut’s $277M Series D Funding Round:
The news of revolut 361m 277 funding round was quickly followed by the announcement of an additional $277M raised in its Series D funding round. This investment round was led by hedge fund TCV, with additional participation from existing investors such as existing investors DST Global, Index Ventures and others, bringing the total valuation of the company up to $5.5B. The funds raised in this latest round will be used to further develop Revolut’s products, expand into new markets and build up the company’s financial strength.
Conclusion:
The recently raised revolut 361m 277m funding rounds for Revolut highlight the rapidly growing success and potential of the company. These funding rounds, combined with the rise of fintech, could become a game-changer for the industry, revolutionizing traditional banking and providing customers with increased choice and convenience. With these new funds and a strong financial backing, Revolut looks set for more success in the future.