Financial Figures for Fintech Firm Show Soaring Demand for Digital Banking

Revolut, a financial technology company based in the U.K. whose backers include DST Global, told potential investors recently it expected revenues to soar to $3.37 billion in 2022 from $279 million in expected revenue for 2019, The Information has learned. Revolut also predicted it would turn its first full-year profit in 2022. 

The figures were part of a presentation the fast-growing online banking startup distributed to potential investors in recent months as it sought a new round of financing. Revolut has reportedly discussed raising capital from investors at a $5 billion valuation—a significant jump from the $1.7 billion post-money valuation it garnered after raising a $250 million round in 2018, according to financial data firm PitchBook. The fundraising is nearing completion, according to a person with knowledge of the process.