Revolut valued more than Natwest after Softbank-led funding

London: British-based digital banking app Revolut has raised around $800 million in a new funding round led by Softbank Vision Fund and Tiger Global Management, valuing the company at around $33 billion.

The fundraising makes Revolut Britain’s most valuable fintech firm and on paper it is now worth slightly more than the market capitalisation of mainstream lender NatWest. The London-based company was worth just $5.5 billion when it raised $500 million in early 2020, and had been eyeing a valuation of around $20 billion as recently as June, according to media reports at the time.