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Revolut raises $66 million (£51 million) for its global banking alternative

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Revolut has raised a $66 million (£51 million) Series B round with Index Ventures leading the round, and existing investors Balderton Capital and Ribbit Capital also participating. The startup will also run another $5 million (£3 million) crowdfunding campaign in a few weeks. The company has raised $83 million (£64 million) in total.

Revolut started as a mobile app that lets you send and receive money in multiple currencies. Over time, the company has added a ton of financial services, turning it into a credible alternative to a regular bank account.

When you sign up, you can create virtual cards and receive a good old plastic MasterCard. You can top up your account using another card or a bank transfer. You can exchange your money in 16 different currencies in order to send it or spend it without any fee up to £5,000/€5,000 per month.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul