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.
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.
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.