According to the press reports of July 15, 2021, Revolut raised $800 million in Series E-funding with a value of $33 billion. The British-based banking and payments app will become the most valuable fintech company in Europe.
SoftBank’s Vision Fund and Tiger Global Management, the funding helped Revolut to achieve this enormous success. Shareholders are expecting its next capital raise at a value of somewhere between $10bn and $15bn.
last year, Revolut raised millions of money from US-based investors TCV and TSG Consumer Partners at a valuation of $5.5bn. In the blink of an eye, the company bounced to six times of its worth than last year. Even at its lowest $30bn-$40bn range, Revolut is still worth more than three-quarters of the companies in London’s FTSE-100 index.
Nikolay Storonsky, Founder & CEO of Revolut said, “SoftBank and Tiger Global’s investments are an endorsement to create a global financial superapp”. He added further, “we want our superapp to offer 10x better value, service and security than any other services available. The services will be personalised, responding to customers’ daily needs, and always with low and transparent fees.
“Revolut’s constant innovative ideas has placed Revolut as the lead in Europe’s nascent neobanking sector” said by Karol Niewiadomski (Senior Investor for SoftBank Investment Advisers).
“Revolut’s superior customer experience and rapid product development has led the company to a strong position” said by Scott Shleifer (Partner at Tiger Global).
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“Revolut has raised further $800m and is expanding even further & creating more jobs in the UK,” said Rishi Sunak MP. He further added that “we want to see even more great British Fintech success stories like Revolut”.
