The particular crypto-friendly digital banking application – Revolut – introduced it had raised $800 million in a new financing round led by SoftBank’s Vision Fund and Gambling Global Management. The fundraising turned the company into one from the largest fintech unicorns within Europe, as it is now appreciated at $33 billion.
Revolut Becoming a Super-Unicorn
According to the Reuters report, Revolut provides secured $800 million inside a new funding round. Japan financial giant SoftBank as well as the American investment firm Gambling Global led the fundraising. Following the move, the value of the fintech company improved to $33 billion. Curiously, back in early 2020, Revolut was worth just $5. 5 billion, nearly six times less than now.
The particular London-based digital app, that provides banking services and functions cryptocurrency investments to the nearly 16 million customers, will reportedly use the money to invest in marketing, international enlargement, and product development. Furthermore, the particular firm aims to expand its operations in the United States plus India.
Revolut’s Chief Economic Officer – Mikko Salovaara – revealed that the significant fundraising would not affect the plan for a potential initial general public offering (IPO):
“We believe eventually we will be a community company but have no instant plans to list. inch
The investment round flipped Revolut into the most valuable fintech company in the UK, surpassing however, market capitalization of the main retail and commercial standard bank National Westminster Bank (NatWest).
UK’s Minister associated with Finance – Rishi Sunak – personally showed their support towards the firm. He or she raised hopes that fundraisings like this would be beneficial for The uk and would keep the economy competitive:
“We need even more great British Fintech success stories like Revolut. inch
Revolut Announced New Crypto Tokens on its System
As CryptoPotato reported within mid-April, the British financial app Revolut informed it would add 11 brand new cryptocurrencies trading on the platform. Company officials explained the move as another energy to satisfy the customers’ expanding appetite for digital possessions:
“You asked for new bridal party, we’ve delivered. We’ve been monitoring hot tokens and best movers to bring our UNITED KINGDOM and EU customers eleven new cryptocurrencies. “
All those new virtual tokens accepted by Revolut are very centered on the world of decentralized finance. Specifically, those are – Cardano (ADA), Uniswap (UNI), Synthetix (SNX), Yearn Finance (YFI), Uma (UMA), Bancor (BNT), Filecoin (FIL), Numeraire (NMR), Loopring (LRC), Orchid (OXT), and The Graph (GRT).
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Dimitar got thinking about cryptocurrencies back in 2018 among the prolonged bear marketplace. His biggest passion during a call is Bitcoin and he had been fascinated with its journey. Using a flair for producing top quality content, he started covering the cryptocurrency space in late 2018. Their hobby is football.