Revolut has hit a record-breaking valuation of $33 billion after an $800 million fundraising that put the digital lender’s worth at six times higher than last year. The valuation nudges Revolut, a loss-making fintech launched in 2015, just ahead of NatWest, one of the UK’s biggest banks whose stock market value stands at £23.3 billion, and makes it the UK’s most valuable fintech. It is also near the top of European competition behind Sweden’s Klarna, which was valued at $45.6 billion in June. SponsoredJapan’s SoftBank and America’s Tiger Global led Revolut’s funding round, which Mikko Salovaara, Revolut’s chief financial officer, said was not necessary but would give “strategic flexibility”. Rishi Sunak said: “We want to see even more great British fintech success stories like

Source: The Times July 15, 2021 16:06 UTC