British fintech company Revolut has raised $800 million, resulting in its valuation reaching $33 billion. As a result, the company has become the most valuable fintech startup in the UK, TechCrunch has reported.
Investors participating in the company's latest funding round include SoftBank's Vision Fund 2 and Tiger Global. Revolut plans to use the investments for marketing, new product development and international expansion.
The company will also explore the possibility of adding insurance services, as well as expanding credit services. In addition, Revolut intends to increase its user base in the US and India.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Revolut raised $500 million in February 2020 reaching a value of $5.5 billion. In July, the service raised another $80 million from investors, but its valuation remained unchanged. As a result, the company's valuation has increased six-fold in a year and a half.
According to its own data, Revolut has about 16 million customers and facilitates over 150 million transactions per month.