is considering a US listing despite Wirecard is considering a US listing after raising new funding that nearly tripled the payments start-up’s valuation, making it one of the UK’s most highly valued private tech groups. The funding round led by Coatue Management valued at $5.5 billion, including $150 million of new cash, the London-based company announced yesterday. The investment came about one year after raised a record early funding round for a European fintech company, pegging the group’s valuation at about $2bn. processes digital payments in multiple currencies for Grab, Deliveroo and a host of fintech groups, such as Revolut…’s rapid rise illustrates the growth in digital payments as companies process more sales online during the Covid-19 crisis. With the new funding,’s valuation equals that of the digital bank Revolut, which raised $500 million shortly before the pandemic spread widely to Europe in February. Investors marked’s San Francisco-based competitor Stripe at $36 billion in April, making it the most valuable start-up in the US…’s new funding comes on the heels of revelations that auditors could not locate €1.9 billion of cash claimed by German payments company Wirecard, leading to the resignation of its chief executive Markus Braun. 

Miles Kruppa