A sharp jump in valuation
UK-based digital banking startup Revolut raised its valuation by 53% to $115 billion through a new share sale, one of the largest valuation increases in the fintech sector recently.
The investors
Glade Brook, Coatue and T. Rowe Price were among the investors that led the share sale. Such rounds typically let existing investors and employees sell shares.
US bank plans
The news coincides with Revolut's preparations to launch a bank in the US, positioning the company not just as a payments app but as a full-fledged bank.
Why it matters
At a $115 billion valuation, Revolut ranks among Europe's most valuable fintech companies. If it secures a US banking license, it is expected to intensify competition on a global scale.
