Revolut, the London-based financial technology giant known for its digital-only banking services, is reportedly in discussions to raise new funding.
According to Reuters, the company is said to be seeking about $1bn through a mix of newly issued shares and the sale of existing stock, according to the Financial Times, which cited people familiar with the matter. The report indicated that U.S.-based investment firm Greenoaks is in talks to lead the private funding round.
Founded in 2015, Revolut has become one of Europe’s most successful FinTech companies by offering digital banking, payments, and financial management services without physical branches.
The potential funding will value the company at around $65bn, up from a previous $45bn valuation achieved during a secondary share sale to new and existing investors last year. This would mark a significant milestone for Revolut as it continues to expand its services and scale its technology infrastructure.
The company recently reported a more than twofold increase in its pretax profit, reaching £1.1bn, and stated that it expects to begin operating as a UK bank in 2025. This move aligns with Revolut’s broader ambition to deepen its presence within the UK banking sector while maintaining its international expansion strategy.
Revolut declined to comment on the funding discussions reported by the Financial Times, while Greenoaks did not immediately respond to Reuters for comment.
Last year, Revolut was valued at $45bn through a secondary share sale, reinforcing its position as a leader in the digital banking sector and signalling strong interest from investors looking to back innovative FinTech platforms.
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