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

Sign up for our Newsletters

Every morning the LendIt Fintech News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!