news broke it That morning Revolut, a UK-based consumer fintech player, raised a Series E round of funding of $800 million at a valuation of $33 billion. Those figures are breathtaking not only because of their sheer scale, but also thanks to their radical deviation from Revolut’s preceding funding event.
Sometimes, The Exchange, ClearTips’s market and startup column, is two topics worth exploring in a single day. Today is such a day. You can see our earlier notes on Buy Now, Pay Later Startup Markets and Apple’s entry into the BNPL space here. now let’s talk neobanks.
as techcrunch ingrid lunden Wrote earlier today regarding the news:
This latest Series E is being led by SoftBank Vision Fund 2 and Tiger Global, who appear to be the only backers in this round. This comes on the heels of rumors Revolut was picking up big earlier this month. Revolut was last picked up about a year ago, when it closed the Series D at $580 million, but what’s surprising is how much its valuation has changed since then, growing 6x (it was $5.5 billion last year). dollars).
Lunden also reported on the changing financial picture of the company based on Revolut’s recently released 2020 results. In this entry, we dig more deeply into those financial results and utilization metrics detailed by fintech Megacorn.
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The picture that emerges is a company whose financial image is improving rapidly, although there are some blanks with regard to recent customer growth.