Revolut, which raised on Crowdcube in 2016 just one year after they launched, confirmed today its meteoric rise as global fintech heavyweight following investment from DST Global that values the company at $1.7 billion (£1.2bn), following a new $250m fundraising. The latest funding round puts Revolut in the exclusive ‘Unicorn Club’, which is reserved for exceptional businesses valued over $1 billion, and is Crowdcube’s second unicorn following in the footsteps of BrewDog in 2017.
One of the world’s most influential tech investors, Yuri Milner, is leading the latest investment round through DST Global, who were early investors in Facebook, Twitter, Deliveroo and another British fintech success story - Funding Circle.
Pictured above is Nikolay Storonsky and Vlad Yatsenko, co-founders of Revolut.
A watershed moment and exactly why Crowdcube started
This is a watershed moment for the finance sector and exactly why Crowdcube was started; to give anyone the chance to invest in the next big thing. Back in 2016, just a year after Revolut was launched, over 430 people invested more than £1 million via Crowdcube alongside some of Europe’s leading venture capital firms. Now, just two years later, Revolut’s valuation has jumped from $58m to $1.7bn, so those stakes are worth significantly more. This Series C round also brings the total funds raised in the last three years to over $340m.
Just two years after its @Crowdcube round, @RevolutApp valuation has jumped from $58m to $1.7bn, so those stakes are worth significantly more.
Fast forward to today and the fintech firm has eight times more users than it did in 2016 - giving their customers access to low cost foreign exchange and travel insurance. In February, the company became the first UK app-only bank to break even. Their users are spread across Europe and it has a suite of new products, including the ability to buy, hold and sell cryptocurrencies within the Revolut app.
A Crowdcube Investor in the 2016 crowdfunding round commented: “It’s amazing to now own a valuable stake in Europe’s newest tech unicorn - they are hot property and my investment has grown substantially in less than two years, which is brilliant. I am a massive fan of both Crowdcube and Revolut and I was over the moon to be given the chance to back Revolut alongside the likes of Balderton Capital and Index Venture in 2016. Without Crowdcube, people like me investing in hyper-growth tech businesses, like Revolut, would still be restricted to a handful of venture capital firms.”
In the news:
Revolut smashes into unicorn ranks with $250m fundraising ahead of international expansion https://t.co/CsvZ64htpR pic.twitter.com/FlVwxliDbv
— City A.M. (@CityAM) April 26, 2018
Revolut reaches "unicorn" status three years after it was founded, with $250m funding round at $1.7 billion valuation. Big paper gains for crowdfunders who backed it via Crowdcube https://t.co/53f52fO0vM
— James Hurley (@jameshurley) April 26, 2018
UK fintech company Revolut valuation passes $1bn https://t.co/cp6HIvnxK1
— Financial Times (@FT) April 26, 2018