At £24bn valuation, Revolut is now UK’s largest fintech firm

Revolut is now UK’s largest fintech firm

In this blog, we curate relevant and remarkable content related to digital banking, fintech and high-performance banking leaders. This piece by The Guardian reports that banking app Revolut has raised $800m from new investors Tiger Global Management and SoftBank. Read on.

“The banking and payments app Revolut has become the most valuable British fintech firm on record after a fresh funding round pushed its valuation to $33bn.

The company, founded by the former Lehman Brothers trader Nik Storonsky in 2015, announced on Thursday that it had raised $800m (£579m) from new investors Tiger Global Management and the major Japanese investment group SoftBank, which now hold a near 5% stake in the business.

It means the London-headquartered company is worth $33bn (£24bn), which is six times higher than last year, when it was valued at $5.5bn.”

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