British startup Revolut has closed a $4.8m Seed round.
Balderton Capital, Point Nine, Seedcamp, Venrex, Index Ventures and various angel investors participated in the round.
The newly secured funds, a statement said, will be used to help Revolut expand across Europe as well as to continue developing its product.
Nikolay Storonsky, CEO and founder of Revolut, commented: “We are thrilled to bring Index Ventures on board as well as launch Revolut 2.0. We have demonstrated strong growth since our launch to the public in July 2015 and are eager to see what the future holds for our ambitious plans.
We want to become the only account consumers will need to spend or send money. Today we have over 100,000 users who have transacted $200m and saved close to $10m because of the product we have built at Revolut,” he continued.
“We love Nikolay’s ambition to build a global mobile money app and become the only app you need to spend, save, send and receive money,” added Neil Rimer, cofounder and Partner of Index Ventures.