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The UK based digital lender is lining up FT Partners to advise it on a new equity-raise that would take place after the summer.City sources said this weekend that the process had yet to get underway but that Revolut investors anticipated it valuing the company at between $10b and $15b. However, the new private funding round is likely to leave Revolut a long way short of being Europe's most valuable fintech - a title now held by the Swedish payments group Klarna.
Mr Storonsky has signalled in the past that he does not foresee taking Revolut public until it is worth at least $20bn - suggesting that a listing remains some way off. While Revolut is said to have been approached by a number of SPACs in recent months, a private capital-raise looks inevitable this year barring a radical change of heart from its board.
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