Revolut has made an investment of over $45mn into Revolut India.
In brief:
This marks the “first tranche” of investments into the FinTech’s Indian operations.
The firm is focusing on a cross-border remittance offering.
It plans to launch this in the coming month.
What does this mean?
Revolut is currently in talks with the Reserve Bank of India about licencing products having entered the market in July last year.