Startup Revolut, co-founded by Ukrainian, raises $500M at $6B valuation
British financial technology startup Revolut, co-founded by Ukrainian Vladyslav Yatsenko, raised a $500 million funding round and was evaluated at $6 billion, as reported by The Telegraph.
- According to the source, the lead investor was the Technology Crossover Ventures fund, which could invest about $150 million. Japanese SoftBank was also interested in investing, but negotiations stopped.
- Revolut has raised funding by selling new shares. It was also planned to be raising $1 billion of extra debt.
- The startup has not yet announced the closing of the deal and is preparing to make an official announcement this week.
- Previously, Revolut raised funds in 2018 when it was evaluated at $1.7 billion. The amount of the deal was $250 million, and the lead investor was Yuri Milner’s DST Global.
- According to the publisher, Revolut has about 10 million customers, however, the company remains loss-making. But this does not prevent investors from competing for the opportunity to buy its shares.