Revolut Raises $500 Million Series D at $5.5 Billion Valuation
Revolut, a UK-based digital banking platform serving over 10 million customers, closed a $500 million Series D funding round in February 2020. The round was led by US-based growth capital firm TCV, with participation from existing investors including DST Global, Index Ventures, and Balderton Capital. The raise valued the company at $5.5 billion, cementing its position as one of Europe's most valuable fintechs.
Revolut stated it would deploy the capital to strengthen product development and roll out banking operations across Europe. The company also set its sights on profitability and increasing daily adoption among its user base in 2020. The investment represented a major milestone for the neobank as it sought to expand beyond its core money transfer and multi-currency account offerings into a broader financial services platform.
The round underscored strong investor appetite for digital banking challengers at the time, ahead of the COVID-19 pandemic that would soon reshape the financial services landscape.
- Validated the neobank model at scale, intensifying competition with traditional banks and other challengers in Europe
- Signaled growing US investor interest in European digital banking platforms as potential embedded finance infrastructure