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After raising a $66m Series B in July, mobile banking company Revolut has announced its intention to obtain a European banking license, allowing it to provide deposit and credit and loans. The company is also building its own in-house payment processor and actively looking at the crypto space.
A number of challengers have been set up across Europe, including Britain's Starling Bank and Germany's N26. Both Starling and N26 have already secured banking licenses. At present, Revolut users are able to spend abroad in over 120 currencies with no fees. They can also hold and exchange 25 currencies and transfer money around the world for free.
https://www.cnbc.com/2017/11/08/fintech-startup-revolut-applies-for-european-banking-license.html
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