Financial and technological company Revolut received another investment. The main investors were Vision Fund 2 from the Japanese group SoftBank and Tiger Global Management, which pumped $ 800 million (CZK 17.3 billion) into it.
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That valued the company at $ 33 billion. According to Bloomberg, the investment increased the company’s value sixfold year-on-year. Revolut thus became the fastest growing British startup, which has now surpassed Checkout.com with a value of $ 15 billion.
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According to the statement, the London startup will use the new money to finance the company’s expansion into new markets in the USA and India, as well as to develop new products and marketing.
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The investment confirmed the growing interest of investors in the tricks of companies whose value is growing sharply this year.
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For example, the Swedish startup Klarna Bank AB, which allows customers to pay for their purchases in installments online, received an injection worth $ 45.6 billion in June. As a result, its value has more than quadrupled in less than a year.
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Wise Plc, a money transfer company, entered the London Stock Exchange this year, more than doubling its value.
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German investment bank N26 GmbH is currently negotiating with investors to raise funds through fundraising, which could value it at approximately $ 10 billion. This was reported to Bloomberg by sources familiar with the issue.
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The Revolut account has approximately 15 million customers and half a million companies that can take advantage of advantageous exchange rates, international money transfers, cryptocurrency and stock trading. The company is also starting its own bank.
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Already in June, Bloomberg reported that Revolut could reach a price tag of up to $ 20 billion in the initial phase of the funding round, which turned out to be underestimated.
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Last year, the company doubled operating losses to £ 201 million as its rapid global growth caused a sharp increase in staff costs.
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In recent years, the revolution has accelerated its expansion into other countries and penetrated, for example, the United States, Australia and Japan. It entered the Czech market in 2018.
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