Good morning Nick,

Revolut is on a roll. Yesterday, the company reported £1.1bn in pre-tax profits for 2024 — a huge 149% increase on the previous year — and said it added 15m new customers.

It's also been on a hiring spree in the UK, as it preps to begin formally starting operations as a licensed bank in the country, and has been rolling out new products thick and fast — from private banking for high-net-worth individuals, to rewards cards. 

Today, Sifted’s fintech reporter Tom Matsuda dives into who’s steering the company aside from its founder and CEO Nik Storonsky. Here's who makes up the Revolut board.

Elsewhere:

• How I made partner less than three years after moving into venture: Cherry Ventures' Dinika Mahtani on the Sifted Podcast
• Can this small European startup solve AGI?

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🤑 Revolut reports £1bn in profits as it plots UK banking service rollout. The neobank has now reported two consecutive years in the green. 

🤖 Can this small European startup solve AGI? Sics has raised nearly €4m to prove that its robot brain can show artificial general intelligence within 18–24 months. 

🧬 Novo Nordisk parent company Novo Holdings and the EIFO invested €48m in Swedish HealthCap's latest life science fund.

📉 Revolut and TravelPerk backers warn of market volatility in the wake of Donald Trump's barrage of tariffs.

🪙 European crypto firm RockawayX closes $125m fund amid renewed interest in digital assets. The firm plans to invest around 50% of its capital into blockchain startups in Europe.

🤝 As Revolut reports record profits, meet the boardroom power players steering the UK’s top fintech towards a long-awaited IPO.  

🎧 “Everything is up for grabs in the UK and Europe.” Our latest guest on the Sifted podcast is Dinika Mahtani, partner at early-stage VC Cherry Ventures. She joins editor Amy Lewin to discuss why deeptech is back, how she made partner less than three years after joining her firm — and why she’d love to spend a day being Warren Buffet. 

🪧 From procurement to finance: How to pick the right business service provider (Sponsored by Liberty Blume)

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Time’s nearly up! The super early bird ticket price for Sifted Summit is about to vanish. Once it’s gone, it’s gone — prices are only going up from here. Join 3,000 founders, investors and operators shaping the future of European tech, October 8-9 at Magazine London.

Zagreb-based Verne (formerly Project 3 Mobility), a mobility company focused on transforming urban transportation, raised €100m in Series A funding.

Braunschweig, Germany-based Okapi:Orbits, which specialises in space traffic management and space situational awareness, raised €13m in seed funding. Ventech led the round and was joined by investors including Matterwave Ventures and Amadeus APEX Technology Fund.

Amsterdam-based Sous, which provides an all-in-one commerce operating system for the culinary world, raised €10m in funding. PeakBridge led the round.

Rome-based WSense, which specialises in underwater wireless communication systems, raised a €7.2m Series B. Axon Partners Group led the round and was joined by investors including CDP Venture Capital SGR, SWEN Blue Ocean, RunwayFBU, Fincantieri and Rypples.

Paris-based Poppins, which develops digital therapy solutions for children with dyslexia and specialises in medical devices for neurodevelopmental disorders, raised €5m in funding. Racine² led the round and was joined by investors including Bpifrance Patient Autonome fund, Eurazeo, Kurma Partners, BNP Paribas Développement and Verve Ventures.

Ghent, Belgium-based Nuclivision, a medtech startup that develops AI software platforms to improve medical imaging processes using PET scans, raised €5m in funding. Lumo Labs led the round and was joined by investors including Heran Partners and imec.istart future fund.

London-based Astrato, a cloud-native business intelligence platform, raised $5m in seed funding. Big Pi Ventures led the round and was joined by investors including Propelling Tech Ventures.

Munich-based Ovo Labs, which is focused on improving egg quality and reproductive longevity, aiming to increase the number of viable eggs for fertility treatments, raised £4m in seed funding. Creator Fund and LocalGlobe led the round and were joined by investors including Blue Wire Capital, Ahren Innovation Capital and Antonio Pellicer.

Madrid-based Acoru, which specialises in fraud and scam prevention using AI technologies, raised €4m in seed funding. Adara Ventures led the round and was joined by investors including Athos Capital.

Barcelona-based Nuage Therapeutics (Nuage Tx), which is developing new drugs targeting intrinsically disordered proteins associated with unmet medical needs like cancer, raised €1.8m in funding. Sofinnova Partners led the round and was joined by investors including CDTI Innovación.

Barcelona-based Playoffnations, which uses digital environments like video games and Twitch for advertising strategies, raised €1m in funding. Eoniq.fund led the round.

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