Revolut losses double to €234m as staff costs surge

The digital payments company was valued at $5.5bn in its last private fundraising round.

Digital payments company Revolut — which is seeking banking licences in Ireland, the US, Britain, and continental Europe — saw its operating losses double to £201m (€234m) in 2020 as rapid growth around the globe caused staff costs to surge.

The company is also understood to be in the early stages of a fundraising round that could value it at $20bn (€16.8m) or more. However, it is not planning a stock market listing.