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Digital banking startup Revolut raises $250M at a valuation of $1.7B

Revolut, the London-based fintech that offers a digital banking account and sprawling set of other financial services, is disclosing that it has raised a whopping $250 million in Series C funding, less than three years since launching.

The new round, which gives the company a $1.7 billion post-money valuation — a five-fold increase in under a year, we’re told — was led by Hong Kong based DST Global, along with a group of new and existing investors that includes Index Ventures, and Ribbit Capital. In case you aren’t keeping up, it brings the total amount raised by Revolut to $340 million in less than 36 months.

To put this into context, TransferWise — London’s undisputed fintech darling and on some features a direct competitor to Revolut — recently announced $280 million in Series D investment, giving the company a reported post-money valuation of $1.6 billion. The difference? It took TransferWise seven years compared to Revolut’s three.

That’s testament to how much value investors a..