July 24, 2015
Balderton Capital has invested £1.5m in Revolut, a FinTech platform that simplifies international currency exchange and peer-to-peer money transferring. Whether you are a traveler for business or pleasure, if you plan on spending money, you can almost bet your bottom dollar or pound that you will be charged a fee of some sort. The VC firm has an aligned vision with Revolut, both organizations support solutions that are innovative and globally impactful.
Revolut unconventionally disrupts the banking system. Currency exchange is a huge pain point for travelers. Revolut’s technology alleviates the cumbersome task of withdrawing money from an ATM and the fees associated with the transaction. The simplicity of transferring money through a smartphone app or social media without an intermediary bank is a traveler’s dream. The app is available on the Apple App Store for iOS and on Google Play for Android. Once the Revolut app is set up on a mobile device, a free RevolutCard ™ can be ordered and used at any place where MasterCard payments are accepted and money can be withdrawn without a fee.
Revolut is a part of many FinTech-driven companies in Balderton’s investment portfolio. The fund is also behind Wonga, Nutmeg, Crowdcube, Zopa, Credit Benchmark, eWise, GoCardless, and PayWithMyBank.
Wonga: Online lender, small short-term cash advances.
Nutmeg: Intelligent, fully managed investment portfolio.
Crowdcube: Pioneering equity crowdfunding website.
Zopa: Pioneer in peer-to-peer lending.
Credit Benchmark: Innovative credit risk data and analytics.
eWise: Personal money management.
GoCardless: Reoccurring payments made simple.
PayWithMyBank: Online mobile payments.