London-based Revolut picks up $66m investment

London-based banking platform Revolut has picked up a $66m investment to help with global expansion.

Backers to the round included Index Ventures, Balderton Capital and Ribbit Capital.

The company’s RevolutCard allows customers to buy with a real-time exchange rate, and without any fees. Users are also able to transfer money globally, get easy access to expenses, the ability to block and unblock the card use at the touch of a button, an instant current account and help services.

This funding will be used to improve its services, implement new features and expand globally with Asia and North America its first target.

Revolut is looking to expand its European customer base of 700,000 and plans to hire more international expansion managers in countries including Switzerland, Germany, France, among others.

In the near future, the company hopes to allow customers to open a personal EUR account in seconds, buying and selling cryptocurrencies and invest spare change in to company stocks and bonds.

Later this year Revolut will be launching a £4m crowdfunding campaign following last year’s successful £1m raise, which saw an oversubscription with over £17m of pledges.

The company received $6.75m for its Series A round last year, and total funding into the company has reached around $73.75m.

Copyright © 2017 FinTech Global

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