{"id":46142,"date":"2021-07-15T14:02:05","date_gmt":"2021-07-15T11:02:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46142"},"modified":"2025-09-01T14:51:47","modified_gmt":"2025-09-01T11:51:47","slug":"online-bank-revolut-raises-800m-at-a-33bn-valuation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/online-bank-revolut-raises-800m-at-a-33bn-valuation\/","title":{"rendered":"Online bank Revolut raises $800m at a $33bn valuation"},"content":{"rendered":"<p>The British fintech firm Revolut has raised $800 million in a new funding round led by SoftBank (via Vision Fund 2) and Tiger Global Management, Sky News reports.<\/p>\n<p>The deal values the online bank at $33 billion, making it the most valuable fintech company in the United Kingdom and the second-most valuable in Europe.<\/p>\n<p>The report drew the attention of UK Chancellor of the Exchequer Rishi Sunak, who applauded Revolut\u2019s success and said the United Kingdom is keen to develop its innovation sector.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Good news that <a href=\"https:\/\/twitter.com\/RevolutApp?ref_src=twsrc%5Etfw\">@RevolutApp<\/a> has raised $800m and plans to expand even further \u2013 creating more jobs here in the UK.<\/p>\n<p>We want to see even more great British fintech success stories, which is why I\u2019ve published my vision for the future of the sector.<a href=\"https:\/\/t.co\/zpIecU2zYn\">https:\/\/t.co\/zpIecU2zYn<\/a> <a href=\"https:\/\/t.co\/yxFY4bpeEW\">https:\/\/t.co\/yxFY4bpeEW<\/a><\/p>\n<p>\u2014 Rishi Sunak (@RishiSunak) <a href=\"https:\/\/twitter.com\/RishiSunak\/status\/1415599682366083072?ref_src=twsrc%5Etfw\">July 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The latest valuation of Revolut is six times higher than its value in July 2020, when it attracted financing from American TSG Consumer Partners, which valued Nikolay Storonsky\u2019s business at $5.4 billion, according to Crunchbase.<\/p>\n<p>In April, Sky News reported plans for Revolut <a href=\"https:\/\/forklog.com\/en\/news\/media-revolut-plans-to-raise-investment-at-a-valuation-of-up-to-15-billion\">to conduct a fundraising round at a $10-15 billion valuation<\/a>. According to channel sources, the company managed to raise the bar when Swedish Klarna <a href=\"https:\/\/www.klarna.com\/international\/press\/klarna-secures-additional-funding-as-consumers-demand-smarter-alternatives-to-shop-bank-pay\/\">surpassed<\/a> $46 billion.<\/p>\n<p>Revolut will channel the funds from investors into international expansion, the development of new products, and marketing efforts, CNBC reports, citing the company&#8217;s chief financial officer Mikko Salovaara. He said Revolut is focused on accelerating growth in the United States and India.<\/p>\n<p>The company attracted the investment against a backdrop of rising losses, as well as growth in revenue and the customer base. In 2020, Revolut posted a pre-tax loss of $289 million. The company&#8217;s revenue grew by 57%, and the number of users by 127%.<\/p>\n<p>Earlier, the online bank <a href=\"https:\/\/forklog.com\/en\/news\/revolut-launches-trading-of-nine-defi-tokens-in-mobile-app\">launched trading of nine <span data-descr=\"decentralized finance\" class=\"old_tooltip\">DeFi<\/span>-tokens<\/a>, including AAVE, SUSHI, 1INCH and COMP.<\/p>\n<p>In May, Revolut introduced a beta version of a service allowing <a href=\"https:\/\/forklog.com\/en\/news\/revolut-launches-beta-bitcoin-withdrawal-feature\">withdrawals of bitcoins purchased on the platform<\/a>.<\/p>\n<p>Follow ForkLog news on Twitter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British fintech firm Revolut has raised $800 million in a new funding round led by SoftBank and Tiger Global Management.<\/p>\n","protected":false},"author":1,"featured_media":46143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1396,1133],"class_list":["post-46142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-revolut","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=46142"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46142\/revisions"}],"predecessor-version":[{"id":46144,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/46142\/revisions\/46144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/46143"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=46142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=46142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=46142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}