Revolut Eyes $65 Billion Valuation in New Funding

Financial technology powerhouse Revolut is reportedly negotiating a new funding round that could elevate its valuation to a staggering $65 billion, insiders told the Financial Times. The London-based firm is seeking approximately $1 billion through newly issued shares and the sale of existing stock, with U.S. investment firm Greenoaks expected to spearhead the effort.

The company, currently one of the most prominent European fintech successes, was previously valued at $45 billion following a secondary share sale. Known for its digital-only model, Revolut has declined to comment on the potential deal, while Greenoaks has yet to provide a response to a request from Reuters.

In April, Revolut revealed a robust increase in pretax profits, more than doubling to reach 1.1 billion pounds over the previous year. The fintech leader plans to commence operations as a UK bank by 2025, signaling further expansion within the industry.

(With inputs from agencies.)