Revolut is a London-based startup on digital banking and crypto services. The company raised an investment of $250 million. The company is now valued at $1.7 billion.
Services of Revolut
Revolut launched in July 2015. Its services are :
- Pre-Paid Debit cards (MasterCard or Visa).
- fiat currency exchange.
- cryptocurrency buying and exchange.
- personal loans.
- travel insurance.
- international money transfers.
Funding for Revolut
Revolut is one of the fastest growing companies in Europe. A Hong Kong-based company DST Global with Index Ventures and Ribbit Capital. These companies funded the Series C round of $250 million and Revolut is now valued at $1.7 billion.
They are now expanding globally toward North America and Asia with the new funding. Their services will be launched in the US, Canada, Singapore, Hong Kong, Australia and New Zealand, and other countries.
The team said: “Over the last 12 months, we’ve built up a reputation for moving faster than anyone else in the fintech space, and we don’t want to give up our crown anytime soon. That’s why we’re looking to hire as many talented developers and designers as possible, as we begin to scale the company globally.”
Revolut Adds Bitcoin Cash (BCH) and XRP
After the successful funding took place. the company’s cryptocurrency service Revolut Crypto will add two new currencies. The company announced that they will be adding Bitcoin Cash(BCH) and Ripple (XRP).
They said “We’re extremely proud to announce that we will be adding Ripple (XRP) and Bitcoin Cash (BCH), alongside the current Bitcoin (BTC), Litecoin (LTC) and Ether (ETH).”
Last time we had seen how financial institutions are now starting crypto trading. This really shows us how the crypto related startups are valued highly in the financial sector.
Lets us know what you think about this funding? and comment your thoughts below.
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