TCV completed the acquisition of a minority stake in Revolut for $500m.

Technology Crossover Ventures, a provider of capital to growth-stage private and public companies in the technology industry, completed the acquisition of a 9% stake in Revolut, a fintech company that provides a digital-only banking app and card which allow users to receive, send, invest and spend money via the app, for $500m. Investors Bond Capital and Ribbit Capital took part in investing as well. “We are delighted to partner with Nik, Vlad and the entire Revolut team. Using a modern technology stack and with a relentless focus on delighting customers, Revolut has built a truly exceptional customer experience that is exceeding anything that existing banks can offer. We look forward to supporting the team on their journey to build Revolut into one of the biggest financial services companies in the world,” John Doran, TCV General Partner.