Homepage / Technology / Tennis star Andy Murray among customers to pledge over $22 million in funding for bank alternative Revolut
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Technology

Tennis star Andy Murray among customers to pledge over $22 million in funding for bank alternative Revolut

Andy Murray was one of 40,000 customers who committed to invest over £17 million ($22.3 million) in Revolut, the financial technology (fintech) company announced Monday.

The firm raised $66 million in venture capital investment in a Series B round just over two weeks ago, led by international venture capital firm Index Ventures.

Revolut opened that Series B round up to its customer base on Monday, launching a $5.2 million equity crowdfunding campaign to just over 40,000 pre-registered investors via the online investing platform Seedrs.

“Word of mouth by our loyal customer base is the reason that Revolut has achieved so much in just two years,” Revolut’s CEO Nikolay Storonsky said in a statement on Monday.

“As a token of our appreciation we are offering them the chance to play a longer term role in the fintech revolution by owning equity in a fast scaling fintech as we embark on our global mission.”

Tennis star Murray, who has 45 singles titles to his name, “is a frequent investor on Seedrs,” Revolut said. CNBC contacted Murray’s management team for comment, but no one was available at the time of publication.

Although pre-registered users committed to pay in excess of $22 million, Revolut said that it can only accept $5.2 million of the cash.

The company has said it aims to expand operations across Asia and North America.

Launched in 2015, Revolut’s app allows customers to open a current account in under a minute, and includes a pre-paid contactless MasterCard debit card, currency exchange with 25 different currencies and a peer-to-peer payments service.

The firm launched personal international bank account numbers (IBANs) across Europe last week, and plans to integrate virtual currencies like bitcoin, litecoin and ether in the future.

Revolut’s Storonsky said: “We have committed to improving our user experience by adding a wealth of new products in the coming months. From the integration of cryptocurrency to pay-as-you-go travel insurance at the tap of a button, we are demonstrating why we go beyond banking.”

Source: Tech CNBC
Tennis star Andy Murray among customers to pledge over million in funding for bank alternative Revolut

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