15th Jul 2021 14:45
(Alliance News) - Draper Esprit PLC on Thursday said has seen the value of its investment in Revolut increase GBP99 million after a successful Series E funding round by the digital bank.
Venture capital firm Draper's stake is now valued at around GBP119 million, up six-fold from its GBP20 million position in March.
Tech start-up Revolut raised more than GBP800 million from new investors Softbank Vision Fund 2 and Tiger Global Management, giving it a new valuation of GBP33 billion.
Revolut launched in the UK in 2015, originally offering free money transfer and exchange to customers. It has since expanded to offer a raft of financial services in 36 countries and claims its customers make more than 100 million transactions a month.
Draper first invested in Revolut in 2018 as part of its Series C funding round.
Draper Esprit shares were trading 1.6% higher in London on Thursday afternoon at 945.00p each.
By Will Paige; [email protected]
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