Revolut wants to become a super fintech app
The app raised $ 800 million to accelerate savings, insurance and trading management. It is now valued at 33 billion and is the largest in the UK
Nikolay Storonsky, founder and CEO of Revolut (press office photo) Continue product innovation and expand into new international markets: these are the main investment lines identified from Revolut, following a new $ 800 million funding round, which brings the overall valuation of the business to $ 33 billion. Launched in 2015 in the UK to offer money transfers and currency exchange, the fintech founded and led by Nikolay Storonsky now has 16 million customers worldwide, making over 150 million transactions with the app every month.The new capital injection will enable the company to pursue growth plans, in particular further developments in global money transfer, asset management, insurance and trading services. Expected expansion of the offer aimed at customers in the United States, as well as entry into India and other international markets. "We are building a complete suite of financial products in a single app, where it will always be possible to find the product that best meets the needs of customers", explains the managing director Storonsky, who reiterates his desire to focus on "increasingly personalized services. "And" with low and transparent tariffs ".
The investment (E series) involved two new operators, SoftBank Vision Fund 2 and Tiger Global Management. "An endorsement of our mission to create a global financial super app that allows clients to manage all their financial needs through a single platform," comments Storonsky. The founder points out that Revolut has now become “the highest rated fintech in the UK”.
The operation did not go unnoticed by the British executive, which is committed to revamping London as a hub for fintech innovation, "which is why I have published a roadmap defining how we will ensure that the United United remain competitive, forward-looking and dynamic ”, explains Rishi Sunak, Chancellor of the Exchequer, finally noting that the further expansion of Revolut could create“ more jobs in the UK ”.
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Topics
Digital business Finance Fintech Digital payments UK startup globalData.fldTopic = "Digital business, Finance, Fintech, Digital payments, UK, startup"
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