This story is available exclusively on Business Insider Prime.European challenger bank Revolut has raised $500 million in Series D funding from Silicon Valley growth fund TCV.
Founded in 2015, Revolut claims to have around 7 million customers and has raised $836 million to-date. The long-anticipated fundraising makes Revolut one of Europe's most valuable startups in the red-hot fintech sector. Other major European finance firms include payment firm Klarna, money transfer firm Transferwise, and OakNorth bank.
Reports had previously indicated that Revolut would take on some form of debt alongside the equity fundraise, but the company said this wasn't happening for now.
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