Revolut

Revolut

Revolut is a London-based Fintech startup and bank.

Revolut was launched by Nik Storonsky and Vlad Yatsenko in July 2015. With Revolut, users can set up an app-based current account, spend abroad in over 150 currencies with no fees, hold and exchange 24 currencies in-app and send free domestic and international money transfers with the real exchange rate. Funds can be stored on a mobile wallet or a physical prepaid card, which, starting December 2018, can be purchased in-person at wilko stores in the UK. Once the prepaid card is purchased and connected to a users Revolut account, users can begin conducting transactions such as ATM withdrawals, purchases at physical and online retailers, and more.

In December 2018, there were 8,000 to 10,000 people opening a Revolut account per day.

Funding

By December 2018, Revolut had raised a total of $336m from investors including DST Global, Index Ventures, Balderton Capital and Ribbit Capital.

Venture round

On May 27, 2019 Revolut completed a venture capital round with an undisclosed amount of funding from Future Fifty.

Series A

On July 14, 2016 Revolut completed their series A funding round with $10 million in funding from Balderton Capital (lead investor), Venrex Investment Management, Seedcamp, Point Nine Capital, NJF Capital, Index ventures, Digital Space Ventures, Ricardo Schaefer, and Nicole Junkermann.

Series B

On July 11, 2017 Revolut completed their seres B funding round with $66 million in funding from Index Ventures (lead investor), Ribbit Capital, Greyhound Capital, and Balderton Capital.

Series C

On April 26, 2018 Revolut completed their series C funding round with $250 million in funding from DST Global (lead investor), Sprints Capital, Socii Capital, Ribbit Capital, Lakestar, Index Ventures, Greyhound Capital, Global Founders Capital, and Draper Esprit.

Timeline

June 3, 2020

Revolut announces the launch of its new financial app version.

March 24, 2020

Revolut launches digital banking app in the US

August 1, 2019

Revolut launches stock trading in limited release

Fintech startup Revolut is launching its stock trading feature today.

April 1, 2019

In September, Revolut said 7,000 new accounts were being opened a day, and that it was processing $3bn in transactions a month.

April 2018

Revolut raises a $250,000,000 series C round from Index Ventures, DST Global, Ribbit Capital and TechCrunch.

July 2015

Revolut founders Yatsenko and Storonsky launched Revolut in July 2015 at the Level39 tech accelerator in Canary Wharf.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
2 Results
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People

Name
Role
LinkedIn

Nik Storonsky

Co-Founder and CEO

Vlad Yatsenko

Co-Founder

Further reading

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Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
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News

Title
Author
Date
Publisher
Description
Samantha Hurst
July 3, 2020
Crowdfund Insider
Click HERE to find out ⭐ Revolut's Standard, Premium & Metal Customers Now Has Access to Silver Through Mobile App. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
JD Alois
June 29, 2020
Crowdfund Insider
Click HERE to find out ⭐ UK FCA Halts Wirecard's Regulated Activities, Fintechs Scramble to Adapt, German MPs Call for an Inquiry into Wirecard's Collapse. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Samantha Hurst
June 17, 2020
Crowdfund Insider
Click HERE to find out ⭐ Revolut Launches Open Banking Services to More Than One Million Irish Retail & Business Customers. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Romain Dillet
June 16, 2020
TechCrunch
Fintech startup Revolut has expanded its open banking feature to Ireland. The feature first launched in the U.K. back in February. Once again, the startup is partnering with TrueLayer to let you add third-party bank accounts to your Revolut account. The feature launch also marks the launch of TrueLayer in Ireland. For now, Revolut users [...]
Will Hurst
June 6, 2020
Crowdfund Insider
Click HERE to find out ⭐ Fintech versus Traditional Banking. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Samantha Hurst
June 3, 2020
Crowdfund Insider
Click HERE to find out ⭐ Revolut Unveils New Version of Financial "Super" App. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Omar Faridi
May 28, 2020
Crowdfund Insider
Over 30% of digital bank Revolut's 10 million finance app users have traded cryptocurrencies in the past month.
Omar Faridi
May 25, 2020
Crowdfund Insider
Digital banking: Monzo, Starling, and Revolut make it much easier to open accounts, according to a recent review.
Omar Faridi
May 12, 2020
Crowdfund Insider
UK-based digital bank Revolut has decided to lay off 60 workers, due to COVID-19 and resulting economic challenges.
Adrian Potoroaca
March 24, 2020
TechSpot
Today, British fintech company Revolut announced that its banking app and debit cards are now available for people in the United States. This marks an important step in the firm's global expansion as it moves beyond UK, the EU bloc,...
Romain Dillet
March 12, 2020
TechCrunch
Fintech startup Revolut has introduced a new trading feature for premium users. Starting today, Premium and Metal users can access gold exposure from the app. Revolut works with a gold services partner (London Bullion Market Association) so that money that you spend on gold exposure is backed by real gold held by this partner. In [...]
Lawrence White
March 5, 2020
IN
Revolut has hired former Goldman Sachs banker Michael Sherwood as a non-executive director, the fast-growing digital banking app said on Thursday.
Iain Withers
February 25, 2020
U.S.
Digital banking app Revolut has raised $500 million in a fresh funding round, confirming the British-based business as one of the world's most valuable financial technology firms with a valuation of $5.5 billion.
Romain Dillet
February 25, 2020
TechCrunch
Fintech startup Revolut is raising a large Series D round of funding. TCV is leading the $500 million round, valuing the company at $5.5 billion. Over the past few years, Revolut has raised $836 million in total. Some existing investors are also participating in today's funding round, but Revolut isn't sharing names. Previous investors include [...]
Steve O'Hear
February 11, 2020
TechCrunch
Revolut, the European banking and money transfer app that now claims over 10 million customers, has partnered with open banking API provider TrueLayer to add bank account aggregation features to its app. The new functionality means that Revolut's U.K. customers -- both consumer and business -- can now connect their external U.K. bank accounts to [...]
Anna Irrera
February 5, 2020
U.S.
When London-based Revolut opens its virtual doors in America this year, it will be the latest European digital bank to challenge incumbent U.S. lending giants after forays by Monzo and N26, but the challenges it faces have not diminished.
Romain Dillet
January 23, 2020
TechCrunch
Fintech startup Revolut lets you earn interests on your savings thanks to a new feature called savings vaults. That feature is currently only available to users living in the U.K. and paying taxes in the U.K. The company has partnered with Flagstone for that feature. For now, the feature is limited to Revolut customers with [...]
Romain Dillet
November 28, 2019
TechCrunch
Fintech startup Revolut is adding a key feature for users who want to replace their traditional bank account altogether. You can now pay with GBP direct debits. Revolut already added EUR direct debits last year. While most people use cards to pay for goods and services in the U.K., some businesses require you to pay [...]
Anshuman Daga
November 12, 2019
U.S.
British-based digital banking app Revolut is in talks with investors to raise at least $500 million next year to fund a global hiring spree as it expands in markets including the United States and Japan.
Romain Dillet
October 23, 2019
TechCrunch
London-based fintech startup Revolut has two pieces of news to announe this week. First, Revolut is expanding to Singapore after a long beta period. The company already has 30,000 customers over there and anyone can open an account now. Singapore residents will be able to take advantage of all of Revolut's core features. You can [...]
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References

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