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Revolut

Revolut

Revolut is a London-based Fintech startup and bank offering mobile banking, card payments, money remittance, and foreign exchange services.

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

July 15, 2021
Revolut raises $800,000,000 in Series E funding round co-led by Softbank Vision Fund 2 and Tiger Global.
July 15, 2021
Revolut raises a $800,000,000 series E round.
December 2, 2020
Revolut launches early salary feature in the UK and web app.
July 24, 2020
Revolut extends Series D round to $580 million with $80 million in new funding.

June 3, 2020
Revolut announces the launch of its new financial app version.
March 24, 2020
Revolut launches digital banking app in the US
February 17, 2020
Revolut raises a $500,000,000 series D round from DST Global, GP Bullhound, Lakestar, London Impact Ventures, Ribbit Capital and TCV.
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 DST Global, Index Ventures, Ribbit Capital and TechCrunch.

Funding rounds

Patents

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
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Products/Services

News

Title
Author
Date
Publisher
Description
Omar Faridi
August 28, 2021
Crowdfund Insider
Revolut Introduces new features in August to enhance UX .The Fintech firm's app gives users more control of their finances.
Nils Pratley
August 19, 2021
the Guardian
Cheap money, the Delta variant and China's sluggish performance add up to tough times ahead
Romain Dillet
August 19, 2021
TechCrunch
Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super app directly. Right now, the [...]
Romain Dillet
August 19, 2021
TechCrunch
Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super app directly. Right now, the [...]
JD Alois
August 19, 2021
Crowdfund Insider
Click HERE to find out ⭐ Revolut Adds Earned Wage Feature to Banking App. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
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References

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