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Revolut seeks $1.5bn funding to super-charge global expansion

Autor: Financial Market
Timp de citit: < 1 minute

Leading UK FinTech, Revolut, is seeking a massive $1.5bn in additional funding as it aims to establish itself as a dominant global brand in banking and payments. Sky News revealed that the Revolut has enlisted JP Morgan to help it raise $500m via an equity-based transaction and a further $1bn via a convertible loan against the company.

The value of some of the most successful FinTech startups has spiralled in recent years with a number achieving “Unicorn” status with a valuation in excess of $1bn. However, the level of funding that Revolut is seeking is virtually unheard of amongst such relatively young financial services startups/scaleups.