Orrick has advised Revolut on its $250 million Series C financing round, bringing its post-money valuation to more than $1.7 billion.
Financial technology startup Revolut has raised $250 million in a blockbuster “Series C” funding round.
The investment round was led by DST Global, along with institutional and existing investors Index Ventures, Ribbit Capital, GFC Global, Sprints Capital, Draper Esprit, Lakestar and Baring Vostok.
The investment, one of the largest-ever in European fintech, values Revolut at $1.7 billion.
Revolut Limited develops a mobile application that allows users to exchange currencies at interbank rates, send money through social networks, and spend with a multi-currency card. The company was incorporated in 2013 and is based in London, United Kingdom. The Compay is currently applying for a banking license in Lithuania.
The app has 2 million users globally and claims to have 250,000 daily active users. Revolut is currently processing $1.8 billion of transactions per month and says it is signing up as many as 8,000 new users per day.
Orrick has advised Revolut with a team including Chris Grew (Picture) and Jamie Moore, together with Stephen Tallon, Siddharth Fresa and Jose Campos on corporate matters, Barrie VanBrackle, Jacqui Hatfield and William Wilson on regulatory matters, Siobhan Sheridan on finance matters and John Narducci, Jamie Larkin and Joshua Emmett on US tax matters.
Involved fees earner: Christopher Grew – Orrick; Jamie Moore – Orrick; Stephen Tallon – Orrick; Siddharth Fresa – Orrick; Jose Campos – Orrick; Barrie VanBrackle – Orrick; William Wilson – Orrick; Jacqui Hatfield – Orrick; Siobhan Sheridan – Orrick; John Narducci – Orrick; James Larkin – Orrick;
Law Firms: Orrick;
Clients: Revolut Limited;