Banking App Revolut Becomes Tech ‘Unicorn’ Valued At $1.7 Bln After Latest Funding Round
Revolut raises $250 mln in latest fundraising round, led by Hong-Kong based VC firm DST Global – startup now valued at $1.7 bln
U.K.-based alternative banking app Revolut reported today, April 26, that they have raised $250 mln in a Series C investment round, giving them an overall $1.7 bln valuation and thus making them a “unicorn” – a startup with over a $1 bln valuation.
In December of last year, the Revolut app added an option to transact in crypto, supporting Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH), on top of the 25 fiat currencies available. Their blog post today writes that they will also be adding Ripple (XRP) and Bitcoin Cash (BCH).
Hong Kong-based venture capital company DST Global led the funding round, along with investors Index Ventures and Ribbit Capital.
Revolut’s blog post also notes that they will be adding the new features of “Revolut Platinum,” which is a banking card, and “Revolut Wealth,” which will let users invest in stocks, indices, and exchange traded funds (ETFs). Revolut also announced that it will expand to the United States, Canada, Singapore, Hong Kong, Australia, and New Zealand this year.
The crypto community’s go-to messenger app Telegram recently raised a combined $1.7 bln during two separate closed Initial Coin Offerings (ICO) held this year to fund the development of the app and its own Blockchain platform.
Last week, US-based stablecoin project Basis raised $133 mln in funding from big name VC investors.