British mobile money firm Revolut Ltd. announced a partnership with Mastercard Inc. to launch Revolut cards in the U.S. by the end of the year.
The announcement also confirmed that the companies will partner on a minimum of 50% of all existing and future cards Revolut will issue in Europe. Moreover, the agreement will enable Revolut to reach markets in Asia-Pacific and Latin America, such as Australia, Singapore, Japan, New Zealand, Brazil and Mexico.
Insiders previously told Sky News that the U.K.-based company sought to raise funding of a total of $1.5 billion in a bid to expand internationally. Revolut also reportedly struck an agreement with Visa Inc. to allow the digital banking firm to expand into 24 new markets.