Home Stock & SharesBanks Revolut raises $66 million (£51 million) for its global banking alternative

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

by Paul

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:

This article is for information purposes only.

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.

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