Revolut Raises Massive $500 Million Round at $5.5 Billion Valuation

Revolut has closed a $500 million round led by TCV; the challenger bank has now raised $836 million in total; news of the latest round started a few weeks ago; the announcement yesterday did not include whether the company had closed $1 billion in debt that was rumored to be led by JP Morgan; Revolut now has 10 million customers with most being in Europe and the UK; they are also live in Singapore and are in beta in Australia with plans to now focus on their launches in Japan and the US; with the new funds they plan to improve existing products and grow revenues; new lending services for both consumers and businesses are also expected. Lend Academy

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