With the new valuation, the London-based company will make the company the most valuable start-up in the UK
Revolut is set to fundraise over $20 billion, according to Bloomberg. The British-owned firm is now in the early phase of the fundraising round.
However, a decision regarding the amount or timing is yet to be reached with the investors. The company is also looking for more fundraising, although all details regarding this were withheld. Revolut hopes to achieve a $10 billion fundraising valuation.
These funds will increase the firm’s valuation several times compared to a fundraising round in 2020. Last year, the firm raised $500 million. This added a value of $5.5 billion to the company. With the new valuation, the London-based company will make the company the most valuable start-up in the UK. This will even surpass Checkout.com which is valued at $15 billion.
The company’s adjusted revenue rose by 57% to £261 million, an equivalent of $362 million. However, the rapid expansion caused a rise in the operating losses to £201 million.
We’ve reported that Revolut and epay announced partnership.