Revolut Raises $250 Million, Adds Bitcoin Cash (BCH) and XRP


The European alternative banking app designed for the globally mobile generation, Revolut, has just secured a major infusion of capital. With the new funding at hand the startup will be expanding to new markets around the world and add new features such as support for BCH and XRP to its crypto service.


Europes New Unicorn

Revolut Raises $250 Million, Adds Bitcoin Cash (BCH) and XRPLondon-based alternative digital banking startup Revolut has announced today it just raised a Series C investment round of $250 million meaning the company is now valued at $1.7 billion. The new round of funding was led by Hong-Kong based DST Global with existing investors Index Ventures and Ribbit Capital also participating.

The startup was only launched in July 2015, making Revolut one of the fastest companies in Europe to reach the coveted unicorn status. Its services include pre-paid debit cards (Mastercard or VISA), fiat currency exchange, cryptocurrency buying and exchange, peer-to-peer payments, remittances, personal loans, travel insurance and international money transfers.

To celebrate the successful funding round, the companys cryptocurrency service Revolut Crypto will be getting two new currencies added to its existing lineup. Were extremely proud to announce that we will be adding Ripple (XRP) and Bitcoin Cash (BCH), alongside the current Bitcoin (BTC), Litecoin (LTC) and Ether (ETH).


Global Expansion

Besides the founding round, the company also shared today parts of its future roadmap. The first step appears to be hiring a lot of new employees. The team said: Over the last 12 months, weve built up a reputation for moving faster than anyone else in the fintech space, and we dont want to give up our crown anytime soon. Thats why were looking to hire as many talented developers and designers as possible, as we begin to scale the company globally.

Revolut will also be expanding into North America and Asia with the new funding. The service will launch this year in the US, Canada, Singapore, Hong Kong, Australia and New Zealand, with many more countries promised to be in the pipeline. The company says that over 100,000 people have signed up to their waiting lists, across the world, with thousands joining every day. They commented: By expanding overseas, we will be empowering millions of people to take control over their financial lives, and in the process, we will be reducing the cost of international transfers by partnering with the best players in the financial world.

Finally, they also plan to add a new service for securities investments. Revolut Wealth will be our next milestone, as we expand our services to allow our users to invest their funds into stocks, indexes and exchange traded funds (ETFs), alongside a variety of other financial instruments.

Are you more likely to use Revolut now that it is adding support for BCH? Share your thoughts in the comments section below.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). Weve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

26.04.2018 / 17:40 68
Revolut Global Money App To Add Ripple (XRP) Soon Revolut Global Money App To Add Ripple
Revolut, a United Kingdom based global banking alternative has revealed it will be adding Ripple (XRP) any moment. This is coming after it added
Menlo Ventures Leads $40 Million Series B in Bitcoin Firm BitPay Menlo Ventures Leads $40 Million Series
One of Silicon Valleys oldest venture capital firms is dipping its toe into the blockchain ecosystem with an investment in cryptocurrency payment
Spring Labs Raises $15 Million to Build Credit Data Blockchain Spring Labs Raises $15 Million to Build
Spring Labs, a blockchain startup that aims to decentralize the data-sharing process in the credit industry, has raised $14. 75 million in a seed
MIT-Founded Startup Raises $20 Million for Supply Chain Blockchain MIT-Founded Startup Raises $20 Million
Eximchain, a supply-chain focused blockchain startup founded in 2015, has raised $20 million from a group of investors. Founded at the Massachusetts
Openbazaar Raises $5M from Investors Including Bitmain Openbazaar Raises $5M from Investors
On Tuesday, March 13, OB1, the company building the cryptocurrency-centric marketplace Openbazaar, has announced it has raised $5 million USD in a
OpenBazaar Raises $5 Million from Bitmain, OMERS Ventures OpenBazaar Raises $5 Million from
OB1, the development company behind decentralized online marketplace OpenBazaar, has raised $5 million in a Series A funding round According to a
Comments (0)
Add a comment
Comment on