Funding round
Revolut Series D
Revolut, which works in digital banking services in London, raised $500M in a Series D round announced on 25 Feb 2020, led by Technology Crossover Ventures, at a $5.50B post-money valuation. 1 firm took part, 1 of them already investors. It is Revolut's sixth venture round on record; the one before was a Series C in Apr 2018.
$500M
Amount raised
$5.50B
Post-money valuation
$5.00B pre-money
1
Investors
1 lead
3.2x
Step-up from the Series C
$1.70B in Apr 2018
9.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Revolut at $5.50B after the new money, 3.2 times the $1.70B of its Series C (Apr 2018). The $500M bought investors about 9.1% of the company. It came 22 months after Revolut's Series C. It is 14% of the $3.63B Revolut has raised in the venture rounds on record. Revolut raised again 17 months later: a Series E round of $800M in Jul 2021, at $33.00B post-money.
Revolut's funding rounds
Revolut has 8 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 1 Jan 2015, led by Balderton Capital $2.3M$12M post-money
- Seed 4 Feb 2016, led by Balderton Capital $4.8M
- Series A 1 Jul 2016, led by Index Ventures $8.7M$42M post-money
- Series B 11 Jul 2017, led by Index Ventures $66M$300M post-money
- Series C 26 Apr 2018, led by DST Global $250M$1.70B post-money
- Series D this round 25 Feb 2020, led by Technology Crossover Ventures $500M$5.50B post-money
- Series E 15 Jul 2021, led by SoftBank Vision Fund and Tiger Global $800M$33.00B post-money
- Other not a venture round 27 Aug 2024 $45.00B
- Growth 19 Sep 2025, led by Coatue, Greenoaks and Dragoneer Investment Group $2.00B$75.00B post-money
Investors
Who put money in
Technology Crossover Ventures led the round. Technology Crossover Ventures had backed Revolut before.
Lead investor
- Technology Crossover Ventures backs 86 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Banks & ATMs, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Varo Banks & ATMs | 3 Jun 2020 | $241M | not disclosed | Gallatin Point Capital and TPG |
| Electronical Components Manufacturing | 25 Feb 2020 | $150M | $1.95B | Mayfair Equity Partners |
| Plume Tech Companies | 26 Feb 2020 | $85M | not disclosed | not named |
| Tech Companies | 11 Feb 2020 | $50M | not disclosed | not named |
| Tech Companies | 11 Feb 2020 | $40M | not disclosed | Gulf Capital |
| Tech Companies | 13 Feb 2020 | $22M | not disclosed | not named |
| Tech Companies | 19 Mar 2020 | $400M | not disclosed | not named |
| Alto Pharmacy Drug Stores & Pharmacies | 30 Jan 2020 | $250M | $700M | SoftBank Vision Fund |
Sources
Where this comes from
Reported by 12 sources.
Questions
Frequently asked
How much did Revolut raise in its Series D round?
Revolut raised $500M in its Series D round, announced in Feb 2020.
Who led Revolut's Series D round?
Technology Crossover Ventures led it.
What was Revolut's valuation at the Series D round?
$5.50B post-money ($5.00B pre-money).
Did Revolut raise again after this round?
Yes: a Series E round in Jul 2021 of $800M at $33.00B post-money.