Revolut is Europe’s newest unicorn after raising $250m

Challenger bank Revolut, which opened a Dublin office last year, has gained unicorn status after raising $250m in funding. The latest investment increases Revolut’s valuation by 500pc in a year to $1.7bn. The Series C round was led by Hong Kong-based DST Global as well as Silicon Valley investors Index Ventures and Ribbit Capital. Revolut is an app-based banking alternative with a multi-currency card. The company recently revealed that it plans to become a fully fledged bank and it has applied for a European banking licence. With more than 250,000 daily active users, the fintech has been pushing out its product at an impressive rate in its mission to convince people to ditch their traditional banks.

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