Numerous reports of the bank raising $500m (£389m) series D round from Softbank to hel launch in the US. Expected to close in the new year.
Last round closed at $250m, at $1.7bn valuation.
Previous backers; Index Ventures, Draper Esprit and DST Global
Softbank said earlier this year that it was looking to deploy around $200m into fintech from its $100bn Vision Fund, and was reported by Sky News to have explored a similar investment in UK challenger bank Oaknorth. - verify
The Vision Fund and Softbank have been under increasing scrutiny in recent months, as a significant portion of its backing is sourced from Saudi Arabia’s Public Investment Fund (PIF). verify
Revolut, Oaknorth and Softbank declined to comment.