Revolut is one of the biggest fintech companies in the world, and it just got bigger. A new funding round has ballooned the British digital finance platform into the biggest of its kind in the U.K. Comparing its numbers now to its 2020 numbers, one wouldn’t even believe it’s the same company. So what has helped the Revolut crypto platform get to where it is now?
Well, Revolut posted some incredible numbers in its newest funding round. SoftBank, one of the biggest investors in the crypto space, was one of the leaders in the funding round alongside Tiger Global. All-in-all, the funding round saw $800 million in funding flow into the company.
This impressive cash injection adds even more to one of the most quietly impressive growth periods for a company across the entire crypto space. Ultimately, it brings Revolut’s value up to a whopping $33 billion. You might not think that’s a monolithic number on its own. But, it is impressive when you consider the fact that its value was just $5.5 billion only a year ago.
Revolut Crypto Exchange: A Prime Target for the Next Major Fintech SPAC Merger
Investors should be paying attention to the Revolut crypto platform. The new valuation just made the company the largest fintech startup in the United Kingdom. It also has become the second-largest private fintech company in all of Europe.
Those reading between the lines know that this makes Revolut a prime target for a SPAC (special purpose acquisition company) merger. This method of taking a company public is incredibly popular now, as we are seeing with companies like Churchill Capital (NYSE:CCIV) and Lucid Motors, or Pershing Square Tontine Holdings (NYSE:PSTH) and Universal Music Group. Investors are left to speculate over whether or not a SPAC outfit can court Revolut, one of the fastest-growing digital banking companies in the world.
While investors can speculate all they want, the company is not yet fretting over coming public. CFO Mikko Salovaara says the company has no immediate plans for a public offering. Rather, they will take the cash from this recent funding round and use it toward marketing and international expansion.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
