The latter though still made an investment.Īlso of note about Revolut itself: The trading and banking startup has faced no shortage of controversy in its pre-pandemic days. As Protocol’s Biz Carson notes, Tiger narrowly beat out SoftBank for the spot of lead investor in Redis Labs, an open-source database startup. In short, the two investors have been competitors-but it also wouldn’t be the first time the two have worked hand-in-hand. There are key differences in their strategies-while Tiger is known for taking a backseat and letting its dollars do the talking, SoftBank is known to still take an operational role in its portfolio companies. And following a string of successful IPOs of portfolio companies like Korean e-commerce company Coupang, SoftBank has also regained investor confidence since its WeWork-induced snafus roughly two years ago and is also now writing hefty checks out of its $30 billion fund. The press-avoidant hedge fund was the most active investor globally in the space during the second quarter of the year alone. As then outsider SoftBank roiled the venture ecosystem with mega investments in 2019, Tiger Global has become the name on everybody’s lips in 2021. It is uncommon to see both investors on a deal together, much less leading one as partners. Do you have the names in your mind (Hint: They’ve been deploying capital like it’s nobody’s business)? Yes, SoftBank’s Vision Fund 2 and Tiger Global Management are apparently leading the mega round in the company. On Thursday, U.K.-based fintech Revolut announced that it raised $800 million in Series E funding, catapulting the company into the position of Europe’s second most valuable startup with a valuation of $33 billion.īeyond just the numbers and the fact that fintech is red-hot, the deal is also the surprising coming together of two investors very much in the headlines.
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