Revolut Valued at $33B in $800M Fundraising Led by Softbank

Revolut, a U.K.-based digital bank, has been valued at $33 billion in a funding round led by SoftBank and Tiger Global Management.

• The round raised $800 million, the company said in a release.
• The figure is six times Revolut’s $5.5 billion valuation of February 2020.
• Talks between the U.K. fintech and SoftBank’s Vision Fund 2 were reported earlier this month, with indications Revolut could be valued as high as $40 billion and raise as much as $1 billion.
• Revolut intends to use the funds to boost its offering to U.S. customers and to expand into other international markets, such as India.
• The neobank has offered crypto trading since 2017, and in May enabled customers to transfer the assets bought to wallets held elsewhere.