Officially incorporated in March 2020, the new company has already backed around 15 early-stage companies, including a handful of start-ups founded by fellow ex-Revolut employees.
The people behind it include Rishi Stocker, who left Revolut last month after spending four years fleshing out its partnerships and heading up its Japanese expansion.
Fellow founder Dan Westgarth, who joined Revolut a year before Stocker, also built Revolut’s partnerships. Upon departing the $5.5 billion challenger in April, he was managing Revolut’s North American business.
Initially, Expansion Capital will operate as an angel syndicate. But looking into the future, it hopes to transform into a full-blown venture capital firm.
“We definitely back ex-Revolut people. Quite a few ex-Revolut employees have gone on to set up their own businesses […] We’ll be the first port of call for those people,” says Westgarth.