British financial technology firm Revolut is reportedly in advanced talks to raise around $1 billion in fresh capital, targeting a valuation of $65 billion, according to a report by the Financial Times.
The funding round is expected to include both the issuance of new shares and the sale of existing stock. U.S.-based investment firm Greenoaks is said to be in discussions to lead the private round, sources familiar with the matter told the FT.
If successful, the deal would mark a major milestone for the London-based digital banking firm, pushing its valuation well beyond the $45 billion figure it achieved during a secondary share sale last year. That previous round attracted a mix of new and existing investors and solidified Revolut’s position as one of Europe’s most prominent fintech players.
Revolut, which has declined to comment on the current fundraising talks, has rapidly grown over the past decade with its mobile-first, digital-only approach to banking services. The company offers a broad suite of financial products, including payments, foreign exchange, crypto trading, and investment tools, attracting more than 35 million users worldwide.
In April, Revolut reported a significant jump in profitability, with pretax profits more than doubling in 2024 to reach £1.1 billion. The company also revealed plans to launch full banking operations in the UK by 2025, having already secured banking licenses in several European countries.
A successful funding round at the reported valuation would place Revolut among the world’s most valuable privately held fintech companies, ahead of many of its U.S. and European peers. It would also highlight strong investor confidence in the firm’s profitability and growth potential, despite broader headwinds facing the global tech sector.
Neither Revolut nor Greenoaks has confirmed the details of the fundraising or provided additional statements.
The development comes as investor appetite for fintech firms begins to rebound following a period of tighter capital conditions and increased scrutiny of digital finance models. Analysts say Revolut’s scale, revenue growth, and potential to expand banking services in key markets make it a standout player in the crowded fintech landscape.
Revolut’s next move — whether in securing this funding or obtaining its long-awaited UK banking license — could significantly shape its trajectory as it pushes toward becoming a global financial super-app.
