A bank that provides crypto services succeeds in raising $500 million investments!
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Answer A bank that provides crypto services succeeds in raising $500 million investments!
Digital Bank Revolut has raised $500 million in a Series D round of financing.
The company is valued at $5.5 billion.
Over the years, Revolut has raised $836 million.
according to Take CrunchVenture capital firm TCV is leading the round, as are other investors.
Revolut did not share the names of the investors and the names of the companies.
But the source clarifies that DST Global, Index Ventures and Balderton Capital have all invested in the company.
Revolut is a digital bank that seeks to help replace traditional bank accounts with an app that helps users manage their money.
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With the Revolut app, money can be sent, spent and received, and Revolut Bank also issues a debit card to its users.
The digital economy company fintech has added many features, including the ability to buy stocks or invest in cryptocurrencies.
In March 2019 he started placing orders for trading major cryptocurrencies such as BTC, ETH, XRP, LTC and BCH.
The $500 million will be used to improve the user experience of Revolut’s 10 million users, as well as improve the bank’s revenue.
Specifically, the digital bank is looking to offer lending services to its users, and has already begun to do so in the UK, where the bank provides savings vaults.
Nick Storunsky, co-founder and CEO of Revolut, said:
Going forward, our focus is on starting banking operations in Europe, increasing the number of people using Revolut as their daily account, and striving for profitability.
While the company doesn’t share an exact figure when it comes to its transaction volumes or customers, TechCrunch reported that the number of users increased by 169% in 2019, while the number of daily active customers increased by 380% in the same period.
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Revolut is currently available in the UK, Europe, Singapore and Australia.
Recently launched at all in the United States and Japan.
Read also:
Bank of England official: It is important for central banks to think about cryptocurrencies
Ex-Chinese central bank chief: Coronavirus outbreak could speed up digital currency issuance in China
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