British tennis player Andy Murray is one of investors who have committed to invest over £17 million in fintech company Revolut’s crowdfunding campaign, CNBC reported.
Launched in 2015, Revolut raised $66 million in a Series B funding round last month, bringing its total investment so far to $83 million. In a blog post, Revolut said that its £1m crowdfunding campaign last July was oversubscribed by over 10,000 would-be-investors who pledged to invest £17m. The company is now raising an additional £4 million from the crowd in exchange for shares in Revolut.
"Word of mouth by our loyal customer base is the reason that Revolut has achieved so much in just two years," Revolut's CEO Nikolay Storonsky said. "As a token of our appreciation we are offering them the chance to play a longer term role in the fintech revolution by owning equity in a fast scaling fintech as we embark on our global mission."
The startup has launched £4 million equity crowdfunding campaign to nearly 40,000 pre-registered investors via the online investing platform Seedrs. Revolut said that Murray is a frequent investor on Seedrs.
Revolut clarified that it can only accept £4 million in cash although pre-registered users have committed to pay in excess of £17 million. The crowdfunding campaign will be opened in stages to the pre-registered customers until the funding target is achieved, Crowdfundinsider reported.
Over the next year, Revolut intends to expand its operations globally.
"We have committed to improving our user experience by adding a wealth of new products in the coming months. From the integration of cryptocurrency to pay-as-you-go travel insurance at the tap of a button, we are demonstrating why we go beyond banking,” Storonsky said.
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