{"id":343118,"date":"2017-06-08T23:01:33","date_gmt":"2017-06-08T15:01:33","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1501252"},"modified":"2017-06-08T23:01:33","modified_gmt":"2017-06-08T15:01:33","slug":"revolut-takes-venture-debt-from-triplepoint-capital-before-impending-large-equity-round","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/revolut-takes-venture-debt-from-triplepoint-capital-before-impending-large-equity-round\/","title":{"rendered":"Revolut takes venture debt from Triplepoint Capital before \u2018impending large equity round\u2019"},"content":{"rendered":"

<\/p>\n

Revolut<\/a>, the rather noisy London fintech startup that offers a card and current account features, coupled with low currency exchange, has taken venture debt from U.S.-based Triplepoint Capital, according to a regulatory filing<\/a>. The amount remains undisclosed, though I understand the financing is to see the company through to a much larger Series B round currently in the works.<\/p>\n

\u201cRevolut recently closed a venture debt facility with a leading U.S.-based venture debt firm,\u201d a Revolut spokesperson told TechCrunch, confirming the Companies House filing dated June 1. \u201cRevolut has significant growth plans and venture debt provides us with a quick means of accelerating the growth whilst we close our impending large equity round.\u201d<\/p>\n

The company has to date raised approximately \u00a311 million in equity financing via two seed rounds and a Series A, according to Crunchbase<\/a>.<\/p>\n

Backers include<\/a> pre-seed\/seed investor Seedcamp, London VCs Index Ventures and Balderton Capital, Venrex, Germany\u2019s Point Nine Capital and U.S.-based Ribbit Capital. In addition, \u00a31 million of Revolut\u2019s Series A last year came in the form of equity crowdfunding via Crowdcube.<\/p>\n

Meanwhile, the London-based startup has been pretty active of late, rolling out a plethora of features that take it beyond a pre-paid card for low currency exchange when spending abroad.<\/p>\n

The company launched \u201ccurrent account\u201d functionality<\/a> in February, putting it into neobank territory, and followed up in March by offering credit in partnership with Lending Works<\/a>.<\/p>\n

The same month, Revolut rolled out a subscription version<\/a> of its service that sees users pay a monthly fee for unlimited interbank foreign exchange when you spend, transfer and exchange money via a Revolut account.<\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Revolut, the rather noisy London fintech startup that offers a card and current account features, coupled with low currency exchange, has taken venture debt from U.S.-based Triplepoint Capital, according to a regulatory filing. The amount remains undisclosed, though I understand the financing is to see the company through to a much larger Series B round currently in the works. Read More<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

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