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Tennis Star Andy Murray Among Customers to Pledge Over $22 Million to FinTech Revolut

Last Updated March 4, 2021 4:58 PM
Rebecca Campbell
Last Updated March 4, 2021 4:58 PM

British professional tennis player Sir Andy Murray is reported to be one of thousands of customers who will be investing in fintech firm Revolut.

The Glasgow-born tennis star, who is ranked number one  in the world, makes up one of 40,000 customers who have committed to invest £17 million ($22.3 million) in a crowdfunding round to Revolut, a digital banking alternative.

According to CNBC , customers from 55 countries jumped on board to pre-register with £17 million making up the pledge amount; however, the company was only seeking £4 million ($5.3 million) to complete its £50 million ($66 million) Series B funding round.

In a statement, Revolut’s CEO Nikolay Storonsky said:

Word of mouth by our loyal customer base is the reason that Revolut has achieved so much in just two years.

He added:

As a token of our appreciation we are offering them the chance to play a longer term role in the fintech revolution by owning equity in a fast scaling fintech as we embark on our global mission.

Murray is reported to have pledged to invest in the fintech because he is a frequent investor on Seedrs, the London-based equity crowdfunding platform.

In June, Murray joined the Seedrs Advisory Board as an investor and strategic advisor; however, according to a Seedrs blog , Murray won’t be providing advice to investors, but will simply be offering ‘strategic input to our management team as we continue to grow rapidly.’

Launched in 2015, Revolut has over 740,000 customers, has conducted just under 30 million transactions and has a total volume worth $4.2 billion.

The Revolut app permits customers to open a U.K. account in three minutes without a proof of address or credit check where expenses can be tracked to keep on top of what a user is spending and where. Users will also have access to a pre-paid contactless MasterCard debit card. Revolut is planning on opening its service to other countries soon.

Featured image from Shutterstock.