Revolut, an app-based digital bank in the UK, has raised another $66m in a Series B funding round led by venture capital fund Index Ventures.
The latest funding round, which also involved the participation of Balderton Capital and Ribbit Capital, takes the total amount raised so far to $83m.
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Revolut said it will utilise the funding to improve its products and launch new features. Among the new features in the pipeline include the ability to purchase and spend cryptocurrencies in-app and a new wealth offering that will allow spare change to be invested in company stocks and bonds.
The funding will also be used to expand to new countries, Revolut said, starting with Asia and North America.
The firm also plans to grow its customer base of 700,000 in Europe, and hire international expansion managers for European countries such as Switzerland, Germany and France.
Revolut presently works alongside several third-party providers. It intends to bring the infrastructure of its products in-house over the next few years.
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By GlobalDataThe company also unveiled plans for a £4m crowdfunding campaign, which is scheduled to be launched later this month.
