Revolut raises $500 million at a $5.5 billion valuation – TechCrunch

Revolut raises $500 million at a $5.5 billion valuation – TechCrunch

FinTech Startup is raising a large series of rounds of real estate funds. TCV is worth $ 500 million in revenue, with the company valued at $ 5.5 billion. Over the past few years, Revolute has grown a total of 6 836 million.

Some current investors are also participating in today’s funding round, but Revolt Name not sharing. Previous investors include DST Global, Index Ventures, Balderton Capital and many others.

If you are not familiar with Revolt, the company is setting up financial services to replace traditional bank accounts. You can open an account from within an app in just minutes. You can then receive, send and spend from the app or using a debit card.

On top of that, Revolt has added a number of features that it has created in-house or through partnerships. You can insure your phone, get travel medical insurance packages, buy crypto currencies, buy shares, donate to charities, save money.

Revolt currently has more than 10 million users, mostly in Europe and the United States. The company does not share specific numbers when it comes to transaction volume and monthly dynamic customers, but here are some percent-based metrics:

  • The total number of users has increased by 169% in 2019.
  • Daily active users increased by 380% in 2019.
  • Revenue up 354% in 2018 (Yes, 2018)
  • The revenue from premium subscription plans (Revolt Premium and Revolt Metal) increased by 154% in 2019.

With the new influx of cash, the company says it will focus on improving revenue as well as revenue for existing customers. It’s all about making Revolt more efficient and stickier.

Specifically, you can expect new lending services for both retail customers as well as companies that use Revolve for Business. While Revolt offers a ton of services in the US, consumers in other markets do not have the same feature set. For example, Revolt has recently launched a savings vault in the US – consumers in other markets will be able to open all savings accounts in the future.

In addition, Revolt wants to double the basic features. The company will improve its two subscription tires (Premium and Metal) and improve banking operations across Europe – you can expect bank accounts across Europe in the future.

Currently, there are 2,000 people working for Realtor. “We’re on a mission to build a global financial platform – a single app in which our clients can manage their day-to-day finances, and this investment demonstrates investor confidence in our business model. Going forward , Our focus is on running banking operations in Europe, increasing the number of people who use Revolt as their daily account, and strive toward profitability.

Revolt is currently live in the US, Europe, Singapore and Australia (in beta). Although the company has announced plans to expand to a handful of countries, the main focus is on launching in the US and Japan in the coming months.

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