Revolut executive exits to seek $100 million for crypto startup

Revolut’s Chief Revenue Officer Alan Chang is leaving the U.K. financial technology startup for a new crypto-currency venture and is seeking to raise roughly $100 million in financing.

Chang is seeking to raise the new funds in exchange for future access to tokens, according to people familiar with the matter, who asked for anonymity because the matter is private. He has already invested millions of dollars himself, one of the people said.

Rafael Henrique/Photographer: Rafael Henrique/SO

“After almost seven years, Alan Chang will be leaving Revolut,” a spokesperson for the firm said. “We wish him every success in his new venture.”

Chang didn’t respond to requests for comment. 

Chang, who was a key member of Revolut’s leadership team and the company’s fifth employee, is leaving one of Europe’s best-known startups. Revolut last raised funds at a $33 billion valuation including from SoftBank Group’s Vision Fund 2 and Tiger Global Management in July. 

U.K. filings show Chang registered as a director of a new company on March 1, after resigning as a director from a Revolut unit in late February. Insider previously reported his departure.