Breaking News
Revolut’s new funding could mean a 10B $ valuation for the company
Revolut is about to step into new fundraising and the new valuation of the company is expected to be at more than $10bn (£7.2bn).
Sky News reported that co-founders of Revolut Nikolay Storonsky and Vlad Yatsenko are willing to get funding from FT Partners, the US-based fintech investment bank, the new funding round is expected to take place in Q3.
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City sources also confirmed that the idea of the funding process is not final, however, the Fintech firm’s investors estimate that the business could be valued at anywhere between $10 to $15 billion.
CEO Nik Storonsky has mentioned in the past that he does not consider taking Revolut public until it is worth at least $20bn – suggesting that a listing remains some way off.
Revolut declined comment on what it said was speculation.
The challenger bank managed to raise $500 million in a funding round at a valuation of $5.5 billion during the last year and has attracted 15 million customers in total.
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After a year of Revolut’s US launch, the digital bank has also applied for a US banking license.
Revolut Business launched 3 years ago and has been also very successful so far. Last year the company announced that it’s business banking option has hit a new milestone of 500,000 customers.
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