These two companies – Softbank and Tiger Global – are bold, and are increasingly peerless on their radical massive capital injection, without certainty, towards accelerating growth in digital companies. Great things happen when both combine: “The British fintech firm Revolut has raised $800 million in a new round that values it at a whopping $33 billion, or six times its valuation last year. Revolut is now Europe’s second-biggest fintech unicorn after Klarna, and the biggest in the U.K. The latest round was led by SoftBank and Tiger Global”, notes Fortune.
The new money will be used to fund London-based Revolut’s expansion into new products and markets including the U.S. and India, according to a statement Thursday.
The funding increases Revolut’s valuation six-fold from a fundraising round in 2020 and makes Revolut the U.K.’s most valuable startup, surpassing Checkout.com’s $15 billion mark.
- British fintech firm Revolut said it has raised $800 million in a new funding round led by SoftBank and Tiger Global.
- The round values Revolut at $33 billion, a sixfold increase on the $5.5 billion the company was worth last year.
- Fintech start-ups have been on a funding spree lately, raising a record $33.7 billion in the second quarter of 2021.
Africa needs a firm with DNA like that of SoftBank and Tiger Global. Tell me something: I admire SoftBank and Tiger Global because they blitz, a defensive strategy in American football which pushes all available players against an offense (the quarterback) at a high risk, high reward play. If they miss it, they will likely get beaten by a touchdown but if they succeed, they freeze the offense.
Africa needs that playbook.
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