U.K.-based Revolut has raised new funding valuing the digital bank at $33 billion, in the latest sign of investor interest in new challenger banks. The $800 million funding round was led by SofBank Vision Fund and Tiger Global Management.
The deal makes Revolut the most valuable fintech company in Britain and places it above the U.S.'s Chime, which was valued at $14.5 billion last September.
Revolut reported in June that losses doubled while revenue increased 57% to $361 million in the fiscal year.
Tiger and SoftBank are both noted for aggressively bidding for shares of private firms, though with differing strategies.