26th Apr 2018 15:06
LONDON (Alliance News) - Venture capital firm Draper Esprit PLC said on Thursday it has committed up to USD16.5 million into UK-based fintech company Revolut.
Draper Esprit's investment is part of a Series C funding round, led by Hong Kong-based DST Global which valued Revolut at USD1.7 billion.
"Revolut is a fantastic business which we have got to know both directly and through our relationship with Seedcamp. We have been tracking their progress within the digital banking ecosystem for a while. Their status as one of the fastest growing tech companies in Europe is testament to the great work that Nikolay and his team have undertaken in recent years," said Chief Executive Officer Simon Cook.
"App-only digital banks like Revolut are changing the way we bank and we are tremendously excited about working with the business given its enormous potential to completely revolutionise the way we borrow, save, pay and invest," Cook added.
Draper Esrit shares were trading flat at 466.00 pence Thursday afternoon in London.
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