Revolut Eyes $65 Billion Valuation with New Funding Round

Revolut, the UK-based digital bank, is reportedly in the midst of raising a new funding round. That would greatly increase the company’s valuation, bringing it to a staggering $65 billion. This is a major turnaround within a year of the company executing a merger that had valued it at $45 billion. To leverage the new…

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Revolut Eyes $65 Billion Valuation with New Funding Round

Revolut, the UK-based digital bank, is reportedly in the midst of raising a new funding round. That would greatly increase the company’s valuation, bringing it to a staggering $65 billion. This is a major turnaround within a year of the company executing a merger that had valued it at $45 billion. To leverage the new funding, the Administration has set a goal of securing an additional $1 billion. It would be a hybrid that included both issuing new shares and selling existing ones.

Greenoaks, one of the largest US-based investment firms, is leading this round. The information around the deal is still in flux, and their deal isn’t final yet so the terms could be subject to change. The result of this round will be hugely important to Revolut’s positioning in the market as it rolls out new services and continues to focus on growth.

Revolut has been on some astronomical growth path, now with upwards of 50+ million customers in more than 30 countries. This boom in user growth has helped cement its place as one of Europe’s fintech darlings. One of the main reasons behind its recent growth spurt is the recent granting of banking licenses – allowing it to operate within the UK. This strategic move makes it possible for the company to provide a more comprehensive financial ecosystem to their users.

The decision to go for more funding shows Revolut’s ambitions to invest even harder on expanding its offer and infrastructure. The company continues to invest with a focus on winning investment. It aims to maximize capital raised by issuing and selling new shares but balances the interests of nearly 4 million shareholders.

Revolut is currently on a very high growth and adoption trajectory. From here, we just have to watch how the second funding round develops and read what that implies to the advancements of this company. We all know that the fintech industry is extremely dynamic, and it’s not unusual for the terms of the deal to shift.