Revolut Raises $800 Million in Funding at $33 Billion Valuation
- It is now one of Europe’s most valued fintech startups.

London-headquartered challenger bank, Revolut has snatched $800 million in a fresh Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business in question. Common factors that analysts use for valuations include market size, risk, management, and historical transparency. Types of Funding RoundsThe seed funding round officially kicks off a startup’s equity fundraising process. Used by startups to finance the beginning stages of its business, some proceeds of seed funding may go towards product development and market research.Common investors include angel investors, friends, family, and venture capital firms.Companies that emerge out of the seed funding round that has gone on to prove its ability to build a consumer base while generating a regularly occurring revenue can participate in Series A Fundraising.Businesses that wish to opt-in to a Series A funding round must also possess a strong business strategy to illustrate how it will continue to manifest into a successful business. Series B Fundraising are available for companies that are seeking to depart the development stage that has valuations between $30 million to $60 million.Companies that go on to make it to Series C funding rounds are considerably successful where the aim is to scale a company as efficiently and quickly as possible. Typical investors include investment banks, private equity firms, and hedge funds. For many investors, monitoring how a startup goes through funding rounds is a tactical strategy for securing high-probability investments. Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business in question. Common factors that analysts use for valuations include market size, risk, management, and historical transparency. Types of Funding RoundsThe seed funding round officially kicks off a startup’s equity fundraising process. Used by startups to finance the beginning stages of its business, some proceeds of seed funding may go towards product development and market research.Common investors include angel investors, friends, family, and venture capital firms.Companies that emerge out of the seed funding round that has gone on to prove its ability to build a consumer base while generating a regularly occurring revenue can participate in Series A Fundraising.Businesses that wish to opt-in to a Series A funding round must also possess a strong business strategy to illustrate how it will continue to manifest into a successful business. Series B Fundraising are available for companies that are seeking to depart the development stage that has valuations between $30 million to $60 million.Companies that go on to make it to Series C funding rounds are considerably successful where the aim is to scale a company as efficiently and quickly as possible. Typical investors include investment banks, private equity firms, and hedge funds. For many investors, monitoring how a startup goes through funding rounds is a tactical strategy for securing high-probability investments. Read this Term led by SoftBank's Vision Fund and Tiger Global Management, the company confirmed on Thursday.
Revolut’s ongoing talks with Softbank and other investors for funding at a similar valuation were already making headlines before the company officially announced the deal.
“SoftBank and Tiger Global’s investments are an endorsement of our mission to create a global financial super app that enables customers to manage all their financial needs through a single platform,” Revolut’s Co-Founder and CEO, Nikolay Storonsky, said in a statement.
Revolut has firmly established itself as a digital bank in the United Kingdom and has a strong presence in the European Economic Area as well. The company is now focused on its international expansion, particularly in the United States and India.
In addition, the company revealed that it will use the proceeds in marketing, product development and international expansion.
Bleeding Money
Last month, Revolut disclosed that its losses for the year 2020 mounted to over £200 million, mostly due to the increase in administrative costs. But, it highlighted that its business turned profitable in the last two months of the year.
Moreover, Revolut’s revenue from the fintech business is increasing, jumping 57 percent in 2020 to £261 million. However, 88.4 percent of its business was generated only from the UK market, while 10.2 percent came from the EEA.
The British fintech company operates in Europe with its banking license gained from the Bank of Lithuania. It is now applying for a banking license in the United Kingdom as well and has also applied for a banking charter in the US.
“We are building a full financial product suite in a single app, where you will always find the product that best meets your needs. Our services will be increasingly personalized, responding to our customers’ daily needs, always with low and transparent fees,” Storonsky added.
London-headquartered challenger bank, Revolut has snatched $800 million in a fresh Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business in question. Common factors that analysts use for valuations include market size, risk, management, and historical transparency. Types of Funding RoundsThe seed funding round officially kicks off a startup’s equity fundraising process. Used by startups to finance the beginning stages of its business, some proceeds of seed funding may go towards product development and market research.Common investors include angel investors, friends, family, and venture capital firms.Companies that emerge out of the seed funding round that has gone on to prove its ability to build a consumer base while generating a regularly occurring revenue can participate in Series A Fundraising.Businesses that wish to opt-in to a Series A funding round must also possess a strong business strategy to illustrate how it will continue to manifest into a successful business. Series B Fundraising are available for companies that are seeking to depart the development stage that has valuations between $30 million to $60 million.Companies that go on to make it to Series C funding rounds are considerably successful where the aim is to scale a company as efficiently and quickly as possible. Typical investors include investment banks, private equity firms, and hedge funds. For many investors, monitoring how a startup goes through funding rounds is a tactical strategy for securing high-probability investments. Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business in question. Common factors that analysts use for valuations include market size, risk, management, and historical transparency. Types of Funding RoundsThe seed funding round officially kicks off a startup’s equity fundraising process. Used by startups to finance the beginning stages of its business, some proceeds of seed funding may go towards product development and market research.Common investors include angel investors, friends, family, and venture capital firms.Companies that emerge out of the seed funding round that has gone on to prove its ability to build a consumer base while generating a regularly occurring revenue can participate in Series A Fundraising.Businesses that wish to opt-in to a Series A funding round must also possess a strong business strategy to illustrate how it will continue to manifest into a successful business. Series B Fundraising are available for companies that are seeking to depart the development stage that has valuations between $30 million to $60 million.Companies that go on to make it to Series C funding rounds are considerably successful where the aim is to scale a company as efficiently and quickly as possible. Typical investors include investment banks, private equity firms, and hedge funds. For many investors, monitoring how a startup goes through funding rounds is a tactical strategy for securing high-probability investments. Read this Term led by SoftBank's Vision Fund and Tiger Global Management, the company confirmed on Thursday.
Revolut’s ongoing talks with Softbank and other investors for funding at a similar valuation were already making headlines before the company officially announced the deal.
“SoftBank and Tiger Global’s investments are an endorsement of our mission to create a global financial super app that enables customers to manage all their financial needs through a single platform,” Revolut’s Co-Founder and CEO, Nikolay Storonsky, said in a statement.
Revolut has firmly established itself as a digital bank in the United Kingdom and has a strong presence in the European Economic Area as well. The company is now focused on its international expansion, particularly in the United States and India.
In addition, the company revealed that it will use the proceeds in marketing, product development and international expansion.
Bleeding Money
Last month, Revolut disclosed that its losses for the year 2020 mounted to over £200 million, mostly due to the increase in administrative costs. But, it highlighted that its business turned profitable in the last two months of the year.
Moreover, Revolut’s revenue from the fintech business is increasing, jumping 57 percent in 2020 to £261 million. However, 88.4 percent of its business was generated only from the UK market, while 10.2 percent came from the EEA.
The British fintech company operates in Europe with its banking license gained from the Bank of Lithuania. It is now applying for a banking license in the United Kingdom as well and has also applied for a banking charter in the US.
“We are building a full financial product suite in a single app, where you will always find the product that best meets your needs. Our services will be increasingly personalized, responding to our customers’ daily needs, always with low and transparent fees,” Storonsky added.