UK Payments Startup Integrates Bitcoin After $66 Million Fundraise

A fintech startup in the UK is launching a suite of cryptocurrency services following the completion of a $66m Series B funding round.

AccessTimeIconJul 12, 2017 at 3:31 p.m. UTC
Updated Sep 11, 2021 at 1:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

A fintech startup in the UK is launching a suite of cryptocurrency services following the completion of a $66m Series B funding round.

According to a report from Reuters, Revolut's funding came from a group of backers including Index Ventures, which is an investor in industry startups BitPay and Xapo. Balderton Capital and Ribbit Capital also took part in the round, the startup said in a blog post.

The company, which reportedly has around 700,000 customers (including 400,000 based in the UK), offers a digital banking app as well as payment card services via MasterCard.

Those services are expanding to include bitcoin payment options, with integrations for litecoin and ether on the way. The startup told Reuters that demand for bitcoin among its user base had prompted the move.

Posts on Revolut's community forum indicate that requests for a bitcoin option date back to as early as last summer.

Though it has to date served a primarily European market, Revolut said that it is looking to advance its offerings abroad, with product pushes planned for Asia and North America.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in BitPay and Xapo. 

Mobile phone image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.