Despite Brexit, Revolut raises up to £7.75 million in Series A
12th July 2016
Level39 member Revolut, which lets its users send and spend money for free across the world is announcing a series A fundraising round of £7.75m – with £1m of the funds coming from its users in a crowdfunding round.
Revolut users can get involved for as little as £10 via CrowdCube – giving them the chance to own the same kinds of shares as investors Balderton, Ribbit, Index Ventures, Seedcamp and Venrex.
CEO Nikolay Storonsky said: “These have been difficult weeks for UK markets, but where there is uncertainty, there is opportunity, and we look forward to continue building a ground-breaking British business.”
Revolut, who are based on Level39’s High Growth Space: 42, is already handling over $500,000,000 since launching in July 2015. Every day 1500 more users are joining the service, using it to pay and transfer money into foreign currencies with no fees and at the best exchange rates on the market.
“Our customers have been pivotal to our growth, and to the shaping of the product, so I am thrilled to offer them the opportunity to become part of our company,” says CEO and Founder Nikolay Storonsky.
“We have looked at many players around the world and Revolut has the most transparent and mobile service that consumers feel proud of utilizing. We look forward to seeing their service expand around the world,” explains Meyer Malka, General Partner of Ribbit Capital says.
To find out more go to invest.revolut.com