Revolut Bank Valued at $5.5B in $500M Funding Round
Revolut raised $500 million, but did not specify if any of the funding will go toward improving its cryptocurrency offering.

Revolut, the London-based bank that allows users to purchase cryptocurrencies on its app, has raised more than $500 million in a Series D funding round.
Revolut announced Tuesday the round, led by Silicon Valley venture capital firm TCV, means the bank is now valued at over $5.5 billion. Although investors from previous rounds have also participated, the company has not disclosed any other names. Revolut looks to challenge existing traditional banks, for example by undercutting their prices on services.
Tuesday's news means the company has now raised a total of $836 million in its funding rounds.
Launched in 2015, Revolut provides its 10 million users with easy access to a host of financial services. New users can open an account in minutes, and the company has expanded the number of supported features including adding an equity trading platform and insurance brokerage.
Revolut added bitcoin (BTC) to its platform in July 2017, soon after its $66 million Series B. Ether
Revolut said funding will improve existing products and services as well as expand its outreach outside of its U.K. base. It also plans to begin offering loans to both its retail and business banking customers.
"Going forward, our focus is on rolling out banking operations in Europe, increasing the number of people who use Revolut as their daily account, and striving towards profitability," Revolut CEO and co-founder Nik Storonsky said in a statement.
The company did not specify whether any funds would go towards improving its cryptocurrency offering.
Mehr für Sie
This article is created to test tags being added to image overlays

Dek: This article is created to test tags being added to image overlays
Was Sie wissen sollten:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.