RE: Valuation28 Aug 2021 00:35
Karol Niewiadomski, senior investor for SoftBank, said the company's "rate of innovation has redefined the role of financial services, placing [Revolut] at the forefront of Europe's nascent neobanking sector".
Revolut plans to use the investment to expand into the Indian and US markets.
The firm saw its losses double to £201m last year, which it blamed on having to hire more staff.
European fintech firms are rapidly gaining scale, with Sweden-based payments company Klarna reaching a valuation of £32.9bn ($45.6bn) last month.
Mikko Salovaara, Revolut's chief financial officer, said his company planned to list its shares on the stock market "eventually" at an even higher valuation.