GAFA tax: Companies have received their tax notice

"Companies subject to this tax have received a tax notice for the payment of the 2020 installments," said Bruno Lemaire. Not to mention the possible wrath of the American authorities, the GAFA have already taken the lead. Here's how.   The negotiations on the digital tax at the OECD have come to naught. “We had suspended the collection of the tax until the OECD negotiations were concluded. This negotiation failed, so we will collect a tax on the digital giants next December, "explained Bruno Le Maire, the French Minister of the Economy, in mid-October. "Companies subject to this tax have received a tax notice for the payment of the 2020 installments," the Ministry of the Economy said today. Facebook and Amazon "are among the companies" which have been notified "in recent days", assures for its part the Financial Times. So after firing the first ones, what should the French authorities expect from now on? Has

Revolut raises $ 500 million for a $ 5.5 billion company valuation

Revolut, the global financial platform with more than 10 million customers worldwide, announces that it has raised an additional $ 500 million in Series D, raising the total raised by the company since inception to $ 836 million. The new round was led by the US private equity firm TCV, accompanied by a number of existing investors also participating in the round. The financing values the company $ 5.5 billion, making Revolut one of the highest valued fintech companies in the world.

Revolut, the global financial platform

The new capital injection was obtained thanks to strong demand and customer engagement, as well as the good financial results obtained last year. In 2019, Revolut saw its user growth grow by 169%, its number of daily active customers by 380%, and its 2018 financial results by 354%.

The new capital will be used to strengthen the user experience and Revolut’s offerings for individuals and professionals in existing markets, with particular attention paid to the development of products that promote the daily use of accounts. Future plans include loan services for personal and business customers, expanding savings accounts outside the UK, strengthening customer service and rolling out banking operations across Europe. The company now employs more than 2,000 people.

Revolut will also focus on the development of Premium and Metal, its subscription accounts. These have proven to be important sources of income, up 154% over the last financial year. Many benefits are included in Revolut Premium and Metal accounts, such as unlimited currency exchange, access to airport lounges, free stock trading and travel insurance.