Revolut Extends Series D Funding Round, Secures Further $80m

Challenger bank Revolut has managed to raise $80 million (£63 million) from TSG Consumer Partners, a United States private equity firm, in its latest 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 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 Read this Term, the company has recently announced.

The latest cash injection is an extension of the Series D funding round announced by the Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm back in February. As Finance Magnates reported, the investment round saw Revolut rake in $500 million, making it the most valued fintech in the United Kingdom, with a $5.5 billion valuation.

Revolut to use cash to fund expansion

Following the extra funds raised, Revolut has said that its valuation remains the same, with the UK-based company planning on using the extra cash to finance the company’s product expansion in the United States, as well as its geographical expansion across Europe.

Under its European expansion, the fintech plans on rolling out local banking details in multiple European countries, with Revolut planning on offering credit products across the region.

Earlier this month, the UK-headquartered banking company launched its open bank service in France. By doing so, the fintech’s 1 million customers in the country are now able to directly connect their third-party bank accounts with their Revolut account.

As highlighted by Finance Magnates, the open banking feature will allow Revolut retail customers to connect their bank accounts with seven banks – Crédit Mutuel, Caisse d’Epargne, Banque Populaire, Crédit Agricole, Société Générale, BNP Paribas and Hello Bank.

In addition to its product suite currently available, the company is also working on a subscription management tool, allowing clients to view and cancel all of their active subscriptions from its app, as well as receive alerts when free trials end.

The open bank service was first launched by the banking company in February of this year. In June, the service was launched in Ireland.