UK challenger bank Revolut has raised an additional $80m in its Series D funding round to launch banking operations in Europe.
The additional funding comes from TSG Consumer Partners.
Go deeper with GlobalData
The Series D round dates back to February when Revolut raised as much as $500m at $5.5bn valuation. This investment was led by US-based capital provider TCV.
The latest funding round brings the total amount raised by the company to $580m at the same valuation.
Revolut will use the fresh capital to ramp up its banking operations across Europe, with the addition of credit products at a later stage.
Additionally, the company will roll out a subscription management tool to allow customers to see their active subscriptions, as well as receive alerts when they end.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFounded in 2015, Revolut offers prepaid debit cards and business banking services to its users.
The digital bank allows consumers to receive, send and spend money on an app or use the debit card.
The app also allows users to save money, buy or exchange cryptocurrencies and shares, donate to charities as well as get a travel medical insurance package.
The company has a user base of 12 million users.
