Nik Storonsky (right)/Revolut.
Revolut confirms $80m top-up of its pre-Covid Series D
Taking the total raised as part of the round to $580m.
London-based digital banking service Revolut has closed its Series D funding round for the second time, on Friday announcing an additional $80m had been added to the $500m round it announced in February.
The fresh funding comes from San Francisco private equity group TSG Consumer Partners, an investor in consumer brands like Brewdog and Voss.
TSG joins TCV, the US-based investment firm announced in February to be leading the round, along with several unnamed existing investors in the fintech.
Revolut on Friday reiterated that the funding would be used to accelertate its banking operations in Europe “including full bank accounts and lending services” and teased several new products as being in-development including a new “subscription management tool” and a rewards programme.
On the funding CEO and founder Nik Storonsky said: “While we were not actively looking to raise any additional capital, TSG approached us with an exciting proposition to work together.”
“Now that the Series D round is completed, we can focus our efforts on rolling-out full banking operations in Europe and doubling down on product development in the United States.”