By
Temitope Olatunji
May 7th, 2024
The UK-based bank is involved in a mutual conversation with SoftBank over an investment that has been valued at US$ 30 billion.
According to the latest news report, Revolut is currently in conversation with SoftBank over a fundraiser that is valued at US$ 30 billion. The talks have been initiated by the bank where the revolt advisors have established contacts with Softbank’s investors and have submitted a proposal highlighting an investment worth US$ 750 million to US$ 1 billion.
Talks between Revolut and Softbank
The UK-based bank has actively submitted a proposal to the investors at Softbank regarding a fundraiser that can prove beneficial for the firm and can easily avail an approximate amount of US$ 30-40 Billion. The talks established are said to have been gaining considerable momentum and are anticipated to fetch results in the next two to three weeks.
According to the official reports of Bloomberg, Revolut had previously prompted Softbank about a similar deal that could raise the value of the bank to US$ 20 billion. Revolut had not disclosed the associated details before about the upcoming funding and it’s being reported that considering the size of the proposed fund with Softbank, only Tiger Global Management and Dragoneer Investment Group are some notable companies that can provide funding of this magnitude to other firms.
The Softbank Vision Fund 2 is famous for their funding and have extended their financial support to companies such as Uber Technologies and buy-now and pay-later platform Klarna.
While Revolut first began trading crypto in 2017, the bank had steadily acquired a dignified position in the financial index and had proposed a funding deal with Softbank worth US$ 30 billion. The bank has been running its operation for 6 years and now have approached Softbank to back their service undertakings.
Mercado Bitcoin, which is one of the highest Bitcoin exchanges in Brazil, had previously managed to raise US$ 20 billion from SoftBank Latin America Fund over their series A funding. SoftBank is a Japan-based conglomerate that has been one of the most active investors seeking investment in companies heading towards crypto technology and the ones serving the energy and financial sectors.