Challenger banks Revolut, Starling Bank and Monzo are all reported to be out fundraising; Business Insider reports that Revolut will announce a $1.5 billion round on Thursday, valuing the company at $5 billion; their last raise was $250 million at a $1.7 billion valuation in 2018 and they currently have six million customers; while full details of the new round aren’t yet available, it is expected that the round will consist of $500 million in equity from TCV and $1 billion in debt led by JPMorgan; Monzo was at one time in talks with Softbank and is looking to raise up to $130 million at a $2.6 billion valuation; Starling is reportedly in talks with Merian Chrysalis for a fresh round of funding. Business Insider
