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Revolut Valued at $33B in $800M Fundraising Led by Softbank
The figure is six times Revolut's $5.5 billion valuation of February 2020.
Updated May 9, 2023, 3:21 a.m. Published Jul 15, 2021, 9:39 a.m.
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Revolut, a U.K.-based digital bank, has been valued at $33 billion in a funding round led by SoftBank and Tiger Global Management.
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- The round raised $800 million, the company said in a release.
- The figure is six times Revolut's $5.5 billion valuation of February 2020.
- Talks between the U.K. fintech and SoftBank's Vision Fund 2 were reported earlier this month, with indications Revolut could be valued as high as $40 billion and raise as much as $1 billion.
- Revolut intends to use the funds to boost its offering to U.S. customers and to expand into other international markets, such as India.
- The neobank has offered crypto trading since 2017, and in May enabled customers to transfer the assets bought to wallets held elsewhere.
Read more: Revolut Adds Dogecoin to Crypto Offering
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Higit pang Para sa Iyo
Gold firm Elemental Royalty to pay out dividends in Tether's tokenized gold
The company claimed the bragging right of being the first to let investors opt for dividend payments in a cryptocurrency, backed by gold.
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- Elemental Royalty is the first public gold firm to pay dividends in tokenized gold
- Shareholders can now elect to receive returns in Tether Gold (XAUT), a blockchain-based token backed by physical gold.
- Tokenized gold saw rapid growth over the past year amid rising retail demand for the yellow metal.
