SoftBank ‘in talks’ with Revolut about $1bn investment

SoftBank’s Vision Fund 2 is reportedly one of several companies considering investing up to $1 billion in UK digital bank Revolut.

A report from Sky News revealed that the banking and payments app is in talks about an investment that could value the company at more than $30 billion (£21.7 billion.)

The transaction would make Revolut one of Europe’s most valuable FinTech companies.

Industry sources told the news organisation that the potential investment was being discussed at a valuation of between $30 billion and $40 billion (£28.9 billion.)

SoftBank’s Vision fund has in the past backed Uber Technologies and Klarna. It has also previously held discussions with Revolut about investment but failed to reach an agreement.

Net losses at the London-based challenger bank widened from £107.4 million to £207 million in 2020, rising 93 per cent year-on-year.

However, the FinTech’s overall revenues increased 34 per cent to £222 million from £166 million in 2020, despite losing income from its core travel related operations. [link]

Revolut declined to comment on the reports.

    Share Story:

Recent Stories

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.