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Revolut eyes fundraise at $10bn+ valuation - Sky

Revolut eyes fundraise at $10bn+ valuation - Sky

Revolut is preparing a new fundraising round that would value the digital banking app at between $10 billion and $15 billion, according to Sky News.

The UK-based unicorn is lining up fintech investment bank FT Partners to advise on the round, which would take place after the summer, says Sky, citing sources.

Revolut raised $500 million at a $5.5 billion valuation in a Series D funding round last February. This was later topped up with another $80 million.

The new round could see around $250 million of new shares sold, says Sky, indicating that Revolut has no immediate plans to go public, despite being approached in recent months by a number of Spacs.

Since launching in the UK in 2015, Revolut has amassed more than 15 million retail customers and 500,000 business clients in dozens of countries. The firm is currently applying for banking licenses in both the UK and US that will enable it take deposits.

It will publish its annual results next month. Last year it saw losses triple to £106.5 million, despite a sharp rise in revenues and customers.


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