Revolut has raised GBP 6.75 million from investors including Index Ventures and it will offer a further GBP 1 million in shares to the public through crowdfunding platform Crowdcube, ft.com reports.
The company’s app and MasterCard allow users to convert and spend money from more than 100 different currencies at interbank rates, without charging a commission like traditional exchange services.
Some currency transfer companies such as TransferWise and Azimo suspended services due to volatility during June 2016’s referendum but Revolut said it saw a “huge” increase in downloads and exchange volumes in the aftermath of the vote.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now