The founder of Revolut is plotting a new fundraising that will value the company at more than $10bn (£7.2bn) and cement his status as one of Europe’s youngest fintech billionaires. Sky News has learnt that the digital lender is lining up FT Partners, the US-based fintech-focused investment bank, to advise it on a new equity-raise that would take place after the summer. City sources said this weekend that the process had yet to get underway but that Revolut investors anticipated it valuing the company at between $10bn and $15bn (£10.8bn). Even at the lower end of that spectrum, it would make Nik Storonsky, the app’s founder, a multibillionaire in dollar terms. Revolut, which now has a presence in 35 countries and more than 15 million customers, is in the process of applying for a UK banking licence that will allow it to take deposits in its home market. Advertisement The company last raised external funding 14 months ago when the US-based investor TCV led a $500m (£361m) funding round, valuing Revolut at $5.5bn (£3.98bn). Last June, TSG Consumer Partners invested another $80m in the company. More from UK Prince Philip funeral: Royals gather for Duke of Edinburgh’s funeral at St… Read full this story
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