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Revolut in Talks With SoftBank for Investment at $30B+ Valuation: Report
U.K.-based digital bank Revolut is in “detailed talks” with SoftBank about a fundraising round that could value the firm at between $30 billion and $40 billion, according to a Sky News report.
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- Revolut and its advisers have asked investors at SoftBank's Vision Fund 2 to submit proposals for an investment of $750 million to $1 billion with a deal expected to be “some weeks” away.
- Last month, Bloomberg reported that the firm was in the early stages of talks with investors about a deal that could see the six-year-old digital bank valued at more than $20 billion.
- While it was unknown who else Revolut was in talks with, the size of the proposed SoftBank investment would seem to indicate that only Tiger Global Management and Dragoneer Investment Group would have the wherewithal to make similar proposals, Sky News said.
- The SoftBank Vision Fund 2 has backed companies such as Uber Technologies as well as the buy-now-pay-later platform Klarna.
- Last week, Mercado Bitcoin, the largest bitcoin exchange in Brazil, raised $200 million in a Series B fundraising round from the SoftBank Latin America Fund.
- Revolut first began offering crypto trading in 2017.
Read more: Revolut Adds Dogecoin to Crypto Offering
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
