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Revolut valuation raised 45% by investor

With its valuation raised 45% by an investor, UK-based fintech Revolut is pumping $100 million into Mexico as it seeks to cash in on the lucrative Latin American remittance market.

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Revolut valuation raised 45% by investor


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Earlier this week it emerged that Schroders Capital Global Innovation Trust has revalued its small stake in Revolut upward by 45% from £5.44 million to £7.88 million. The change implies Revolut's valuation is $25.7 billion, up from $17.7 billion last year.

However, the Trust's stake's value is still down from £10.1 million at 31 December 2021, when Revolut was valued at $33 billion.

Separately, the company has moved quickly to take advantage of its recently acquired Mexican banking license.

In an interview with Reuters, country lead Juan Miguel Guerra Dávila says $100 million is being invested to hire staff, cover short-term debt and expenses and maintain a strong cash-on-hand balance.

Revolut is hoping to gain a significant share of the huge cross-border remittance market in Mexico - worth around $63 billion last year - but stresses it plans to offer a "wide range of financial products and services".

The Mexico launch comes a year after Revolut landed in Brazil, offering a global account with foreign exchange and remittance capabilities in 27 currencies.

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