Revolut announces £1.5 million funding from Balderton
20th July 2015
Revolut, the Level39 member which enables international money transfers cheaper than banks and through social networks, has been backed by Balderton Capital in a £1.5 million funding round.
The Revolut account, which enables users to send and spend money with zero fees and with unbeatable rates, is supported by a free Revolut app for smartphones and a free multi-currency MasterCard. The card is delivered at no cost for the customer and can be used abroad with no fees when you spend or withdraw cash from an ATM.
Balderton, the European investor, adds Revolut to its portfolio of successful fintech companies such as Zopa, Crowdcube and Nutmeg. Seedcamp is also backing Revolut.
Nikolay Storonsky of Revolut says “Revolut has an ambition to change the way money is transacted, sent and spent around the world. We are proud and delighted to introduce the world’s best-value digital currency exchange service. The app and card are intuitive to use, free for all and offer customers the peace of mind that, with Revolut, you can use your money across borders at unbeatable value.”