LONDON: British fintech bank Revolut on Thursday said it was worth $33 billion, on a par with some of the UK’s traditional retail banks, after fresh investment.

Six-year-old Revolut revealed in a statement the new valuation, equivalent to 27.5 billion euros, after receiving $800 million from Japan’s SoftBank and US investment group Tiger Global.

Revolut’s last valuation, given in February 2020 before the coronavirus pandemic pushed people to increasingly bank online, stood at $5.5 billion.

“SoftBank and Tiger Global’s investments are an endorsement of our mission to create a global financial superapp that enables customers to manage all their financial needs through a single platform,” said Revolut founder and chief executive Nikolay Storonsky.