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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

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 TechCrunch, Index Ventures, Ribbit Capital and DST Global.

July 2015

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

Funding rounds

Funding round
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Investment
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People

Name
Role
LinkedIn

Nik Storonsky

Co-Founder and CEO



Vlad Yatsenko

Co-Founder



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News

Title
Author
Date
Publisher
Description
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 [...]
Callum Burroughs
October 15, 2019
Business Insider
One of London's biggest fintech unicorns is aiming to become Europe's most valuable tech startup with an ambitious new funding round led by JPMorgan.
Lawrence White
September 30, 2019
IN
British-based digital banking app Revolut is set to hire around 3500 staff as it expands into 24 new markets thanks to a new global deal with payments giant Visa Inc, the two companies said on Monday.
Steve O'Hear
August 8, 2019
TechCrunch
Robinhood, the Silicon Valley-based stock trading app that was recently valued by investors at $7.6 billion, has received regulatory approval in the U.K., breaking cover on its plans to set up shop in London (as reported exclusively by TechCrunch 7 months ago). Specifically, Robinhood International Ltd., a Robinhood subsidiary, has been authorised to operate as [...]
Romain Dillet
August 1, 2019
TechCrunch
Fintech startup Revolut is launching its stock trading feature today. It's a Robinhood-like feature that lets you buy and sell shares without any commission. For now, the feature is limited to some Revolut customers with a Metal card. While Robinhood has completely changed the stock trading retail market in the U.S., buying shares hasn't changed [...]
Romain Dillet
July 24, 2019
TechCrunch
Fintech startup Revolut announced changes to its business accounts this week. The good news is that if you were thinking about trying Revolut for your business needs, it's now cheaper to get started. But there are some limits. While Revolut is better known for its regular consumer accounts that let you receive, send and spend [...]
Romain Dillet
July 10, 2019
TechCrunch
Fintech startup Revolut is opening a small tech hub in Berlin. There's already a ton of fintech talent in the city, as it's the hometown of N26. The company plans to hire 80 people at first for many different tech jobs, from software engineering to data science, product and growth. And this isn't just about [...]
Romain Dillet
July 1, 2019
TechCrunch
Fintech startup Revolut wants to make it easier to donate to charities. Using a new feature, you can now round up card payments to the nearest whole number and donate a little amount to a charity. Over time, those donations might add up. The startup already has some features to put some money aside and [...]
Romain Dillet
June 13, 2019
TechCrunch
Fintech startup Revolut is expanding beyond Europe for the first time. The service is going live for some users in Australia starting today. Revolut isn't opening its doors to all customers at once. The company calls this a beta release and plans to gradually on-board new users every day. There are currently 20,000 people on [...]
Romain Dillet
May 23, 2019
TechCrunch
Fintech startup Revolut is making vaults collaborative. You can now create a vault with someone else and use it like a normal vault. Originally, vaults were an alternative to savings accounts without any interest rate. You could create vault in any currency (including supported cryptocurrencies) and set some money aside. You can round up your [...]
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