Revolut in Bid for $1.5 billion Debt and Equity Round

Revolut in Bid for $1.5 billion Debt and Equity Round
14.10.2019 12:43 pm

Revolut in Bid for $1.5 billion Debt and Equity Round


Revolut has hired JPMorgan to oversee a $500 million equity raise and $1 billion convertible loan, in a move that would bring the total funding raised by the loss-making firm to almost $2 billion.

The search for new capital comes just weeks after Revolut secured a global deal with Visa that would see the fintech move into 24 new markets and boost staff numbers to 3500.

According to Sky News, which first reported on the upcoming funding round, Revolut is aiming for a valuation of between $5 billion and $10 billion from the capital raise.

Insiders said that Revolut would seek to raise the new loan on the basis that it would convert into shares in the event that the company received a US banking licence.

Revolut now has seven million customers across Europe, about half of whom are in the UK. The firm, which reported a pre-tax loss of £33m in 2018, compared with £15m the previous year, claims to be opening 12,000 new accounts every day.

Related News

Financial services organisations are not prioritising compliance in their modernisation efforts – new report from Advanced reveals

Just 6% of financial services organisations say it’s essential for them to modernise their legacy systems to meet current regulatory and legislative demands. This surprisingly... Read more »

Andigo Scholarship To Award $12,500

Andigo Credit Union, based in Schaumburg, IL, announced five college-bound high school seniors as recipients for the 2020 Andigo Scholarship Program. The... Read more »

Forecast by Robocash Group: 5G will boost financial inclusion in emerging markets in Asia

Driving improvements in the digital space, 5G has accelerated financial inclusion in emerging markets in Asia. Analysts of the financial holding ... Read more »

Meniga closes a €8.5m strategic investment round led by Groupe BPCE, Grupo Crédito Agrícola & UniCredit

Meniga, a leading provider of digital banking technology for the world’s largest banks, has closed a €8.5m strategic investment led by customers Groupe BPCE, the second-largest... Read more »

Finantix CIO Cockpit digitises and accelerates key Investment Office processes

Finantix, the leading global provider of trusted technology to the wealth management,... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel