Challenger bank Revolut heading towards $1.4bn valuation following rumoured DST-led funding round

Apr 16, 2018 · uktech.news

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International payment startup Revolut is heading for a quintuple in value over the next year due to a fundraising round led by DST Global.

According to people close to the matter, Revolut have been searching for investors for the past few months, in a deal that would see the London FinTech company raise about $150m.

The round is rumoured to be led by DST Global, an investment firm founded by Russian venture capitalist Yuri Milner. This could bring the company’s total amount raised to date to $250m.

The payment firm raised £1.5m in 2015, followed by a much larger injection of $66m in Series B investment from backers including Index Ventures, Balderton Capital and Ribbit Capital. It was valued at around £200m just last summer, according to PitchBook.

This unusual spike in valuation follows a jump in transaction volume — which the company says now measures $1.5bn a month.

Founded by CEO Nikolay Storonsky Revolut acts like a digital bank, offering UK current accounts, which allow you to exchange up to 25 currencies without transaction fees.

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