💳 Revolut becomes the most valuable UK startup

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💳 Revolut becomes the most valuable UK startup
By London Startup Club • Issue #12 • View online

They’ve only gone and done it, Revolut is now the most valuable UK startup valued at £24billion after a £579m raise from SoftBank and Tiger Global Management - now holding a 5% stake.
With this serious raise, they plan to continue growing by launching new markets in India and the US.
However despite its rapid growth, now with more than 15 million users, Revolut has its sceptics. Some argue its valuation doesn’t quite add up when compared to other banks like Lloyds, and struggle to see how they have increased their valuation 6 fold in just a year.
Say what you will - it’s a great success story for the UK and London. This raise makes Revolut the most valuable tech company ever in Britain and making founder Nikolay Storonsky one of Britain’s youngest billionaires.
It’s also a win for Chancellor Rishi Sunak as he wants to make London the place for companies looking to really scale, after talks of Revolut considering listing on the London Stock Exchange.
Haris Qureshi, Editor & Co-Founder @ London Startup Club
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