Revolut is in talks to raise around $1bn, valuing Europe's most valuable startup at $65bn, according to media reports.
Revolut is in discussions about raising $1bn through issuing new shares and the sale of some existing shares, according to the FT.
The new funding round comes just one year after the London-headquartered challenger bank was valued at $45bn through a secondary share sale.
US investment firm Greenoaks is said to be in talks to lead the new funding round while Mubadala, the UAE-based investor, is also in talks to participate.
The report also said that VC Balderton is among the Revolut backers that could sell some of its Revolut stake.
Funds from the round would be used to help power Revolut’s global expansion.
In its latest financial results, Revolut saw its revenues jump 72 per cent to £3.1bn in 2024, driven by a bounce in its subscription and crypto offerings.
Revolut reported pre-tax profits of £1.1bn in 2024, more than double the previous year, and added 15 million new users.
Revolut now has 52.5 million retail customers across the world.
Revolut declined to comment.
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