Bank alternative Revolut raises $66 million in venture capital investment; eyes expansion in Asia, US

by 11:30 PM 0 comments
Fintech app Revolut has raised $66 million in a venture capital investment in order to expand its operations further across Asia and North America.
The London-based business, which offers foreign currency to consumers abroad at the interbank rate available on the financial markets, raised the money in a Series B venture capital, bringing its total investments up to $83 million.
"Asia and North America are far from immune to hidden banking fees and dated technology," Nikolay Storonsky, the company`s chief executive officer said in a statement on Wednesday.
"The fintech revolution has been an astounding success across Europe, and now is the time to broaden our horizon and embark on our global mission.
" Launched in 2015, the app allows customers to open a current account in under a minute, the firm claims.
It includes a pre-paid contactless MasterCard debit card, currency exchange with 16 different currencies and a peer-to-peer payments service.

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