Revolut in talks with SoftBank for more than $30 billion investment

UK-based digital bank Revolut is in “detailed talks” with SoftBank over a funding round that could value Revolut between $30 billion and $40 billion, Sky News reported.

Revolut and its advisers have asked investors in SoftBank Vision Fund 2 to submit investment proposals of between $750 million and $1 billion, and a deal is expected to be reached in "a few weeks." Last month, Bloomberg reported that Revolut was in preliminary talks with investors about a deal that would value the six-year-old digital bank at more than $20 billion.

Sky News said that while it is not known who Revolut is still negotiating with, the size of the proposed SoftBank investment seems to indicate that only Tiger Global Management and Dragoneer Investment Group are capable of making similar proposals.
SoftBank Vision Fund 2 has backed companies including Uber and buy now, pay later platform Klarna.
Last week, Brazil's largest bitcoin exchange, Mercado Bitcoin, received $200 million in Series B funding from SoftBank Latin America Fund.
Revolut first began offering cryptocurrency trading services in 2017.

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