Revolut Ltd. is in discussions to raise a combination of primary and secondary funding at a blended $65 billion valuation as the fintech looks to raise funds for its US expansion.

The London-headquartered fintech is holding talks to raise around $1 billion of funding led by Greenoaks Capital, according to people familiar with the matter.

Revolut has grown rapidly and served more customers than HSBC Holdings Plc last year, helping the British fintech to boost revenue 72% to $4 billion. The firm now has 60 million customers.

Morgan Stanley is coordinating the raise and share sale, another person said. A document circulated to investors projected the firm would have $5.9 billion in revenues in 2025 and $9.3 billion in 2026.

Storonsky has hinted at a fresh bid for a US banking license and said the firm was targeting 100 million daily active customers in 100 countries. The firm is on track to hit 100 million customers by the third quarter in 2026, according to a person familiar, who added the firm was looking for a valuation pre-listing of at least $100 billion.

Shareholders have indicated for months they would be interested in selling their shares in a sale that values the company above $60 billion Bloomberg has previously reported, after last year’s oversubscribed secondary share sale that gave the firm $45 billion price tag.

The Financial Times first reported details of the fundraising.