Orrick has advised Revolut on its $250 million Series C financing round, bringing its post-money valuation to more than $1.7 billion. The latest fintech company in Europe to achieve “unicorn” status (a valuation over $1 billion), Revolut is a London-based digital banking alternative that allows users to hold, exchange and transfer currencies without fees.
The investment round was led by DST Global, along with institutional and existing investors Index Ventures, Ribbit Capital, GFC Global, Sprints Capital, Draper Esprit, Lakestar and Baring Vostok.
Orrick has advised Revolut since its Series B financing in 2016 and continues to counsel the company on many aspects of its business, including US and UK regulatory issues, as well as corporate, intellectual property, data privacy and cyber security matters.
Revolut was advised by a cross-border Orrick team led by Chris Grew and Jamie Moore, together with Stephen Tallon, Siddharth Fresa and Jose Campos on corporate matters, Barrie VanBrackle, Jacqui Hatfield and William Wilson on regulatory matters, Siobhan Sheridan on finance matters and John Narducci, Jamie Larkin and Joshua Emmett on US tax matters.