Revolut: Raises $80M In New Funding, Now Valued At $5.5B
- In February, Revolut raised $500M in a round led by Menlo Park, California-based TCV, one of the largest growth equity firms
- The new funding is an extension of that round to $580M while the valuation remains the same, the company said
- Revolut also backed by Index Ventures, the global venture capital firm with dual headquarters in San Francisco and London
- Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad
- The financial technology (FinTech) company has expanded its portfolio to also offer business banking
- Revolut is an app-based consumer bank account that allows customers to send and receive money and use built-in budgeting tools
