Revolut is eyeing a new fundraising round which would see the challenger bank’s valuation soar to more than $10bn.

Last summer the neobank raised a further $80m to close out its series D funding round from private equity firm TSG, valuing the company at $5.5bn.

Now Revolut has enlisted the help of US-based investment bank FT Partners to advise it on a new equity rise, Sky News reported. It would see Revolut’s valuation soar to between $10bn and $15bn.

Sources close to the fintech said the company had no imminent need for capital and the next raise could involve the sale of $250m worth of new shares.

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Source: City AM

By Angharad Carrick