Digital banking alternative Revolut, which has 100,000 Irish customers, has raised $250 million (€205 million) in funding in a Series C round that increases its valuation to $1.7 billion (€1.4 billion). The funding round was led by Hong Kong-based DST Global, with new and existing investors including Index Ventures and Ribbit Capital also taking part. It processes $1.8 billion (€1.4 billion) through the platform each month, and has nearly two million customers. It has set a target of 100 million customers in the next five years. Disposable virtual cardsThe company has signed up 100,000 Irish users, with about 40 per cent of them using Revolut as their daily card.

Source: The Irish Times April 26, 2018 06:02 UTC