Sources: Revolut is in talks to raise between $750M to $1B from SoftBank's Vision Fund 2 and others at a valuation of over $30B
SoftBank's Vision Fund 2 is one of several investors in talks with Revolut about injecting up to $1bn into the digital bank, Sky News learns. — City editor @MarkKleinmanSky Tweets: @markkleinmansky Tweets: Mark Kleinman / @markkleinmansky : Exclusive: Fresh evidence emerges of heady fintech valuations as Revolut holds talks with SoftBank's Vision Fund 2 and other investors about raising up to $1bn at valuation of more than $30bn (£21.6bn). A deal remains some weeks from being finalised. https://news.sky.com/...
Context & Ripple Effects
Mark Kleinman's Sky News exclusive lands mid-arc on one of fintech's sharpest repricings: Revolut was valued at $5.5B in 2020, and these talks with SoftBank's Vision Fund 2 imply more than a fivefold jump within a year. The scoop was the first public signal of what became real two weeks later, when Revolut closed an $800M Series E at $33B with Vision Fund 2 and Tiger Global.
The valuation trajectory set here kept compounding privately: employees sold shares at $45B in a 2024 Coatue- and D1-led sale (the $45B share sale), and by mid-2026 Revolut was reportedly lining up a secondary at $115B, by which point it held a UK bank license and had applied for a US charter. This report is the hinge where the private-market re-rating began.
First-order effects
- SoftBank's Vision Fund 2 gets its flagship European fintech position at a reported $30B-plus valuation, roughly six times Revolut's $5.5B mark from 2020 — before any deal terms are finalized.
- Revolut converts headline momentum into balance-sheet firepower of up to $1B, with the round still weeks from being finalized per Kleinman's reporting.
Second-order effects
- Once the price is set, late-stage crossover money follows: Tiger Global joined the eventual Series E, and subsequent employee secondaries drew Coatue and D1 Capital — each sale resetting the mark higher without an IPO.
- A $30B+ private mark pressures rival digital banks' fundraising narratives, since any competitor pitching investors now negotiates against Revolut's number rather than its own last round.
Third-order effects
- If the pattern holds — primary rounds followed by employee secondaries at rising marks ($45B in 2024, reportedly $115B by 2026) — Revolut's valuation compounds entirely in private markets, deferring or displacing a traditional listing as the liquidity mechanism.
- For SoftBank specifically, repeated Vision Fund deployments into re-rating fintechs become the yardstick investors use to value the fund's book against SoftBank's persistent NAV discount.
The trend: Top-tier fintech valuations now compound through successive private rounds and employee secondaries rather than public listings, with SoftBank's Vision Fund anchoring the marks.