Revolut earlier this week announced it has closed Series D round, announced earlier in the year, with a US$80 million extension, for a total funding round of US$580 million at a US$5.5 billion valuation.
The latest investment comes from TSG Consumer Partners, a leading San Francisco-based private equity firm. Revolut will use the investment to speed up production of new product lines, including the newly launched rewards programme for customers.
Accelerating product rollout in Singapore, Revolut has today unveiled lifestyle offerings called Revolut Rewards to all Singapore customers. With Revolut Rewards, customers can now access special discounts and cashback on a number of brands that they know and love, simply by using their Revolut Visa card.
Revolut Rewards kickstarts with cashbacks for top brands, including Amazon, Nike, Lazada and Zalora that are instantly available to all Revolut customers in Singapore. Customers can expect curated personalized offerings through Revolut’s behavioral intelligence platform. There is no additional subscription to pay to use Revolut Rewards; customers simply have to be a Revolut customer based in Singapore.
The launch is part of Revolut’s product acceleration this year, where customers can expect following new features like Gifting, Donation and Revolut Junior. Revolut Donation will be launched in the coming weeks as a way to give back to the community. It offers a seamless and transparent user experience that allows customers to set recurring donations or round up their card payments to donate the difference to their preferred charity organization.
Financial Super App
A global surge of consumers’ adaptation for digitised services and secure payment gateways has brought Revolut to Asia, one of the most vibrant scenes of fintech growth. Revolut is now providing its customers with the latest 7.0 version of its app where the recent updates will create a financial super app for its users. The app promises to “reimagine and redefine” its offerings to customers where Revolut products and services expand to appeal to broader customer segments in Singapore for the adoption of Revolut as a daily personal financial app.
Revolut welcomes local brands to come onboard Revolut Rewards programme, which features Singapore’s most popular categories such as: health and beauty, apparel & sportswear, electronic gadgets, food & beverages and many more.