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Investing.com -- Revolut is in discussions to raise approximately $1 billion in new funding at a $65 billion valuation, according to The Financial Times, citing people familiar with the matter.
The UK-based financial technology group plans to secure the funds through a combination of newly issued shares and the sale of some existing stock, as the company looks to fuel its global expansion plans.
US investment firm Greenoaks is in negotiations to lead the private funding round, though details have not been finalized, one source indicated.
If completed, this funding would represent a significant increase from Revolut’s previous valuation. The company, which stands as Europe’s most valuable start-up, conducted a sale of existing shares about a year ago at a $45 billion valuation.
The new capital would help support Revolut’s international growth ambitions as it continues to expand its financial technology services worldwide.
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