SoftBank Reportedly in Talks with Revolut for Investment

SoftBank’s Vision Fund 2 and several other prominent investors are reportedly in talks with the UK-based financial technology firm, Revolut for the injection of fresh capital at a valuation of nearly $30 billion.

According to a report published by Sky News, Revolut and its advisers asked SoftBank’s Vision Fund 2 and a group of other investors to submit proposals for an investment of nearly $1 billion. The UK-based digital bank is expected to become one of the most valuable financial technology firms after the deal.

The latest reports about Revolut came nearly 4 weeks after Klarna, the Sweden-based financial technology firm, raised $639 million in a Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term led by SoftBank’s Vision Fund 2. Klarna also received a valuation of $45.6 billion, which is the highest valuation received by a private Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm in Europe.

Revolut has expanded its services significantly since the start of 2021. In April 2021, the fintech firm expanded its cryptocurrency offerings with the addition of 11 digital assets including Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid and The Graph.

Fintech Platforms

During the last few months, the institutional interest in fintech has increased rapidly due to a surge in global adoption. Earlier this month, Finance Magnates reported about the participation of PayPal Ventures in the latest $40 million funding round of financial technology firm, Codat. In June 2021, the Bangalore-based financial technology firm, Slice raised $20 million in an effort to transform India’s credit card market.

Despite the overall losses in 2020, Revolut aims to accelerate its global expansion due to a rise in demand for its financial products. Revolut mentioned that it was profitable in the last two months of 2020. The fintech firm is planning to expand its presence in different regions including India, Latin America and South Korea. In March 2021, the financial technology platform officially rolled out its business accounts in the United States across all 50 states for expansion.