Draper Esprit's Revolut stake rises to GBP119 million after fundraise

(Alliance News) - Draper Esprit PLC on Thursday said has seen the value of its investment in ...

Alliance News 15 July, 2021 | 1:45PM
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(Alliance News) - Draper Esprit PLC on Thursday said has seen the value of its investment in Revolut increase GBP99 million after a successful Series E funding round by the digital bank.

Venture capital firm Draper's stake is now valued at around GBP119 million, up six-fold from its GBP20 million position in March.

Tech start-up Revolut raised more than GBP800 million from new investors Softbank Vision Fund 2 and Tiger Global Management, giving it a new valuation of GBP33 billion.

Revolut launched in the UK in 2015, originally offering free money transfer and exchange to customers. It has since expanded to offer a raft of financial services in 36 countries and claims its customers make more than 100 million transactions a month.

Draper first invested in Revolut in 2018 as part of its Series C funding round.

Draper Esprit shares were trading 1.6% higher in London on Thursday afternoon at 945.00p each.

By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Draper Esprit PLC 409.00 GBX 1.24 -

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