8.6 C
New York
Sunday, October 1, 2023
Home Challanger banks Revolut's new funding could mean a 10B $ valuation for the company

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.

Read also: Monzo partnered with RAC to enhance its premium options

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.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Demystifying Payment Engines, Gateways, Processors, and Channels

The payment infrastructure is the foundation of all financial transactions in the dynamic world of digital commerce.

Cross-Border Payments, Deep Dive

It will take a deliberate strategy grounded on in-depth local market and industry knowledge to navigate this complicated and diversified market.

Achieving Product-Market Fit: A UX Designers Guide 

The Product-Market Fit framework, coupled with key insights and practical methods, offer organizations a road map for navigating this vital phase successfully.

Product Management and Fintech UX Design: Designing a Dashboard for Your Banking App

In the ever-changing fintech and banking ecosystem, where technological advancements are a constant, the importance of adept dashboard design can't be overstated.