Tiger Global Management is reportedly in talks to lead a $500 million investment round for Revolut.

According to Sky News, the technology investment giant is one of a number of companies that have shown interest in buying more shares in the UK FinTech.

The potential secondary share sale follows the company’s initial $800 million funding round in 2021, which was jointly led by Tiger Global, and will value the company at around $40 billion.

The move would further solidify the UK company’s status as the most valuable start-up in Europe.

The news, which Revolut declined to comment on, comes after reports suggested that Revolut was eyeing a $40 billion valuation as part of plans for a shares sale.

Last month, people with knowledge of the plans told The Financial Times that the company was collaborating with Morgan Stanley to sell roughly $500 million in shares.

The company also recently hinted at potential IPO plans in its latest report amid record-breaking profits of £438 million.

The past year has seen Revolut open offices in New Zealand and Brazil, as well as kick off a mass hiring initiative.

The most recent financial year also saw Revolut launch several new initiatives, including a platform for professional crypto traders.

Revolut claims that it now has 65 million customers worldwide as of June 2024.

While the business holds a full banking license in Lithuania and with the European Central Bank, it has been awaiting approval from UK regulators for over three years.

It isn't totally clear why Revolut hasn't been granted a banking licence since its application in January 2021, although it's likely the company's delay to the filing of its 2022 accounts for two consecutive years has had an impact.

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