(Reuters) -London-based financial technology giant Revolut is in talks to secure new funding at a valuation of $65 billion, the Financial Times reported on Wednesday, citing people familiar with the matter. The company is in discussions to raise about $1 billion via newly issued shares and the sale of some existing stock, the report said, […]
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Britain’s Revolut in talks to raise new funding at $65 billion valuation, FT reports
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(Reuters) -London-based financial technology giant Revolut is in talks to secure new funding at a valuation of $65 billion, the Financial Times reported on Wednesday, citing people familiar with the matter.
The company is in discussions to raise about $1 billion via newly issued shares and the sale of some existing stock, the report said, adding that U.S.-based investment firm Greenoaks is in talks to lead the private funding.
Revolut declined to comment on the report, while Greenoaks did not immediately respond to a Reuters request.
Last year, Revolut was valued at $45 billion through a secondary share sale to new and existing investors. It has emerged as the most successful of the handful of European fintechs founded in the past decade with a digital-only model.
The company in April reported a more than twofold surge in last year’s pretax profit to 1.1 billion pounds and said it expected to start operating as a UK bank in 2025.
($1 = 0.7357 pounds)
(Reporting by Chandni Shah in Bengaluru; Editing by Shilpi Majumdar)