Recently, the startup from Fintech named Revolut is able to increase its large series D round of funding. It raises its funding to $500 million. It helps in increasing the market value of the company as valuing the Revolut startup at %5.5 billion. In the last few years, Revolut able to increase $836 million in total revenue.
From some reports, it was found that few leading investors are showing their interest in funding round, but the important thing is that Revolut isn’t sharing the name of investors. Some of the previous investors on the funding round include Index Ventures, DST Global, Balderton Capital, and many more.
Some of you are not familiar with the Revolut startup; it is a company providing the financial services alternative to traditional bank accounts. Using it, you can easily open an account through an app. After that, you are able to send, receive, and spend money through the app or you can use a debit card.
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The best thing about the Revolut is that it added lots of features to helps its users with the help of its partners or built in-house. Using it, you can assure your phone, also get travel and medical insurance packages, buy shares, save money, buy cryptocurrencies, donate to charities, and many more.
Currently, Revolut has around 10 million users and most of them are from Europe and the U.K. The important thing to notice about it is that the company never shares data when it comes to active users and transaction volume. But still, some data is disclosed from the reports like total users has grown by around 170% in 2019, monthly active users also grew around 380%, the revenue of the company also raised up to 350% in 2018, and more.
After increasing its market value, the company said that it will now focus on enhancing its products and revenue. It is planning to make it more useful to users. Now you can expect advanced services for customers and companies using Revolut Company for business. The company provides all its new services to the customers of the U.K. which means customers from other countries don’t have the same features to use. But the company said that it is planning to launch its all services for everyone.
Currently, more than 2000 people working for the company to develop a global financial platform. The company is trying to create a platform where all of its users easily manage their daily financial needs using our app. It is trying to enhance the banking operations in Europe by increasing its users and revenue, CEO Nik Storonsky added in its interview.
Recently, the company is working on a few countries, but it announced plans to expand its reach in other countries. The major focus of the company is towards the U.S. and Japan.