Vlad Yatsenko, a Ukrainian who co-founded Revolut, becomes a billionaire after an $800M round and a $33B valuation
The UK fintech service Revolut has raised $800 million in a Series E investment round. The company’s valuation increased sixfold – in 2020, it was $5.5 billion, and now it is $33 billion, TechCrunch reports. As a result, Revolut became the most valuable fintech startup in the UK, and its co-founder, Ukrainian Vladyslav Yatsenko, became a billionaire.
- The round was co-led by Japanese conglomerate SoftBank Vision Fund 2 and the US hedge fund Tiger Global Management.
- According to Forbes, Yatsenko’s stake in the company after closing the round could be 3.87% and is now valued at about $1.3 billion.
- The fresh funding will be used to develop and enhance products and services, their promotion, and international expansion, with a focus on growth in the US and India.
Revolut is a UK fintech startup launched in 2015 by Ukrainian Vladyslav Yatsenko and Russian Nikolay Storonsky. Its product is a neobank, a type of bank that operates exclusively online without traditional physical branch networks. In 2021, the company has over 16 million clients and 150 million transactions per month.
In May 2021, Revolut launched transfers to Ukraine and started actively recruiting a team in Kyiv. The company told AIN.UA that it is hiring professionals mainly for remote work. You can see the open positions on the official Revolut website.