UK-based digital bank Revolut has announced it has raised USD 500 million in a Series D funding round.
The most recent funding round was led by TCV, a US-based investment firm, as well as several unnamed existing investors. Both Revolut and TCV refused to disclose how much exactly TCV had invested in this round.
TCV has previously invested in some of the world’s largest companies, such as Facebook, Netflix, Airbnb and Spotify among many more. The choice to use an American-based investment company does not come as a surprise, as the US has become a growing focus for Revolut following the bank’s launch in the country in 2019 with a Mastercard-backed card, according to AltFi. The digital bank is now valued at roughly USD 5.5 billion.
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