Ripple Partner SoftBank Leads $ 800 Million Funding Round for XRP-Enabled Revolut Digital Bank

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Yuri Molchan

Softbank and Tiger Global lead a new round of funding for Revolut, a crypto-friendly valued at $ 33 billion

Content

  • Revolut now valued at $ 33 billion against $ 5.5 billion in 2020
  • Revolut Holds $ 742 Million In Crypto Assets And Continues To Support XRP

Softbank, which owns the Ripple-supported MoneyTap payment app in Japan, as well as US hedge fund Tiger Global, has helped UK-based digital bank Revolut raise funds. $ 800 million during a recent round table.

Revolut now valued at $ 33 billion against $ 5.5 billion in 2020

According to a CNBC article, the British fintech startup has raised $ 800 million and is now valued at $ 33 billion. That’s six times more than its valuation by investors last year, when it was $ 5.5 billion.

This year, fintech companies are all the rage, having raised $ 33.7 billion in the second quarter of this year.

The Revolut application offers services in the banking and commercial sector. This funding round made the company the second largest unicorn among fintech companies in Europe.

The first is Klarna. As for the UK, where Revolut is based, the $ 800 million raised made it the first largest fintech here, putting it ahead of payment firm Checkout.com.

Revolut Holds $ 742 Million In Crypto Assets And Continues To Support XRP

Britain’s largest fintech unicorn also works with cryptocurrencies.

As reported by U.Today earlier, it holds an incredible $ 742 million worth of crypto, including XRP, Litecoin, Bitcoin Cash, Bitcoin, and Ethereum.

According to a Revolut blog post released in January, the company still allows its clients to buy and sell XRP, despite the controversial SEC lawsuit initiated against Ripple Labs in December 2020.

The company is closely monitoring the situation with the XRP lawsuit, the publication says.



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