British-based fintech-startup Revolut founded in 2005 has raised around $800 million in a new funding round, valuing the company at around $33 billion, Frank Media reports quoting Financial Times.

The fundraising increases Revolut’s valuation six-fold from a fundraising round in 2020 and makes Revolut the U.K.’s most valuable startup, slightly more than the market capitalization of mainstream lender NatWest.

Mikko Salovaara, Revolut’s Chief Financial Officer, stated that Revolut had no immediate plans for an initial public offering, having just raised such a large round.



Founder and CEO of Revolut Nikolay Storonsky said investments and high appraisal demonstrate investors’ confidence that the company can deliver products “that raise the bar for customers’ expectations across the whole financial services industry.”

The fresh cash will mainly be used to help product development and marketing in new countries that Revolut is expanding into, particularly the U.S. and India.

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