Revolut Nears $1B Fundraise, Secures UK Bank License

Revolut, the UK-based fintech giant, is reportedly in advanced talks to raise $1 billion in funding at a $65 billion valuation, a 44% increase from its prior $45 billion valuation. The funding round, led by US investment firm Greenoaks, will feature both newly issued shares and secondary sales, though final terms are not confirmed. Revolut recently received a UK banking license, solidifying its position as Europe's most valuable private tech company. The company reported surging profits and now boasts over 50 million users across more than 30 countries. The new capital is aimed at fueling further global expansion and enhancing its financial services, including crypto-related offerings and Lightning Network payments for European customers. CEO Nik Storonsky is moving closer to an incentive tied to reaching a $150 billion valuation.