Six-year-old Revolut is now worth more than 294-year-old NatWest Bank, which has a market cap of $28bn USD.
Revolut is a FinTech darling even with losses that doubled last year to $290m. Revolut’s 15 million customers and 35 country expansion helps sweeten the pill.
Thursday the company raised $800m from Tiger Global Management and SoftBank. It’s rally cry is to become the “Amazon of Banking”.
It is now the most valuable British fintech company on record. The fearless founder, 36 year old Nik Storonsky owned 25% of the company up until this past round. An IPO must be on the horizon.