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UK neobank Revolut has anchored a $250 actor Series C allotment annular led by DST Global, and including Index Ventures and Ribbit Capital. This brings its absolute allotment to $340 million, and increases its appraisal by bristles times to $1.7 billion — authoritative it Europe’s latest unicorn.
The allotment will be acclimated for all-embracing expansion, with launches planned for the US, Canada, and Australia in summer, followed by Singapore and Hong Kong by the end of the year. Nikolay Storonsky, Revolut’s architect and CEO, said the aggregation won’t fundraise for the abutting two years, and he hopes this allotment annular will be its last, according to City A.M. He additionally said an antecedent accessible alms (IPO) is on the table for the abutting two years, while actuality acquired is not an option. BI Intelligence
Revolut has apparent absorbing advance over the aftermost three years:
This is abundant account for Europe’s broader fintech industry. Revolut acceptable a unicorn in such a abbreviate time is acceptable account for Europe’s fintech industry, as it shows that there charcoal a lot of absorption from investors in its startups. Additionally, it indicates aerial appeal from bodies in Europe for fintech solutions. It charcoal to be apparent whether there will be added allotment circuit this ample in the abreast future, but Revolut’s accession is a acceptable start.
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