Revolut secures $115bn price tag after string of licence wins Fintech Revolut has secured its latest milestone valuation following a funding round that included fresh injections from investment giants. The digital banking giant confirmed on Wednesday its price tag has swelled by over 50 per cent to $115bn after a transaction led by Glade Brook Capital Partners, Coatue and Durable Capital Partners. It is the first funding [...]
Revolut founder accused of hatching a ‘scheme’ to avoid fees in superyacht row Legal The billionaire founder of Revolut has been accused of hatching a “scheme” to avoid paying brokerage fees in a row over a superyacht said to cost €350m. In new legal filings, seen by City AM, Nik Storonsky is accused by a luxury superyacht broker of “secretly negotiating” to buy the vessel “behind the back” of [...]
Revolut to take fight to high street banks with UK personal loans Fintech Revolut is ramping up its battle with high street banking giants with the launch of personal loans in the UK market. The digital bank said on Monday it would begin offering loans between £2,000 and £25,000, which will be repayable over one to five years. The firm has insisted loans will have “transparent terms” and [...]
Fuse takes on UK AI power crisis with bet on ‘faster’ data centres October 21, 2026 British energy unicorn Fuse is moving into AI infrastructure, betting that its control over electricity supply will allow it to build data centres faster than rivals struggling with lengthy grid delays. The London-based company, founded by former Revolut executives Alan Chang and Charles Orr, has launched Fuse Compute, offering businesses access to Nvidia chips hosted [...]
UK watchdogs push for answers on Google Cloud outage after major banks disrupted October 20, 2026 UK watchdogs are pushing for answers following an outage at Google Cloud that has led to a major services disruption across British companies on Tuesday. Google confirmed it was facing “issues” in its “europe-west2 region,” which refers to London according to the firm’s cloud service table. It has affected dozens of websites across the UK, [...]
Higher taxes will ‘kick UK fintech when it is down’, Healey warned October 19, 2026 Venture capital investors have warned that higher taxes on financial services would have trickle-down effects and “clip the wings” of Britain’s already capital-starved fintech sector. Start-up investors that fund the UK’s financial technology industry told City AM the sector’s struggles to access cash would be amplified by a tax hike on top banks and increases [...]
City minister insists capital markets reform ‘not a job done’ October 11, 2026 A top Treasury minister has opened the door to further capital markets reforms after saying the government’s job was not done in improving listing incentives. Lucy Rigby, who serves as the economic secretary to the Treasury, otherwise known as City minister, told City AM the government was “continually looking for ways that we can ensure [...]
Midday Markets: Burnham’s welcome crack down on pesky non-competes October 9, 2026 The Midday Market report is a new newsletter from City AM, giving you fresh analysis on the City’s biggest stories straight into your inbox every lunchtime. Today, Ali Lyon outlines the positive case for Andy Burnham’s clampdown on non-competes and lengthy notice periods. You know something is wrong with the upper end of Britain’s labour [...]
Revolut boss says US primary listing was ‘always the target’ October 9, 2026 The boss of Revolut has said a primary listing in New York was “always” the company’s top goal, in a snub to the London Stock Exchange after a years-long charm offensive. Nik Storonsky, the founder and chief executive of Revolut, said a primary listing in the US was “always the target, given the deep liquidity [...]
Stages of tax grief: Is it time for bankers to bargain? October 7, 2026 Banks are in the firing line at the Budget and in a meeting with bosses on Tuesday chancellor John Healey played coy on any increased rates. In this week’s column Samuel Norman looks at what trade-off could be made. Also on the cards, fresh data shows fintechs are lurching ahead of the incumbents on customer [...]