Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the last week in a TOP 5 list!
Revolut has announced that it has raised $80 million as part of its Series D round that it announced in February. This new funding comes from TSG Consumer Partners.
Monzo bank is in trouble as its losses jumped from £47.2m to £113.8m amid a hiring spree, marketing and US expansion.
The former Finance Director from PayPal has been hired by UK-based card and mobile app provider Curve to act as its first chief financial officer (CFO). Allica Bank has announced the appointment of Richard Davies as its new chief executive officer and Dutch challenger bunq moves into mortgage market with initial €100m worth of loans.
1st place: Revolut raises $80m in new funding as it extends Series D round to $580m
Revolut is also surprisingly holding on to the $5.5bn valuation it secured earlier this year despite the fallout from the pandemic.
2nd place: Monzo bank future in doubt as losses double
This sharp increase in losses is not getting covered by Monzo’s rise in revenues from 19.7m to £67.2m.
3rd place: Curve hires former PayPal exec Scott Weller as first CFO
Scott Weller who started his career as a private equity associate at BlackRock will have the responsibility of expanding Curve’s finance function as the startup, which enables users to access multiple bank accounts with a single card.
4th place: Revolut’s Richard Davies moves to Allica Bank as the new CEO
Allica Bank is a recently launched business bank that seeks to empower small and medium-sized businesses.
5th: Bunq moves into mortgage market with initial €100m worth of loans
Dutch challenger bunq is now offering mortgages as a part of its new partnership with a third party broker.
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