Revolut, Europe’s most valuable start -up, is in conversations to raise $ 1 billion in fresh capital for a valuation of $ 65 billion, according to the Financial Times.
The funding would mark a significant step in the Fintech Group’s global expansion strategy and represents an increase of 44% compared to its last known valuation of $ 45 billion from a secondary share sale a year ago.
The London-based company plans to raise the funds through a combination of newly issued shares and the sale of existing shares, the report says.
Greenoaks, an American investment company that specializes in the backing of high growth technology events such as Robinhood and Stripe, is in conversations to lead the round even if the final terms are not confirmed.
The jumping in valuation would also push reefs closer to an internal milestone. CEO NIK Storonsky is eligible for a significant compensation package if the company reaches a valuation of $ 150 billion, according to the Financial Times.
Revolut gives users the opportunity to get exposure to different cryptocurrencies and crypto shares. It is working to roll out lightning payments for European users.
