Banking Circle in Funding Talks at Half Initial Valuation Pitch
- EQT-backed fintech startup in discussions for $300 million
- Startup had previously sought a $6 billion valuation
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Financial technology startup Banking Circle is in discussions with investors to raise funding at around a $3 billion valuation, according to people familiar with the matter, about half the level previously sought amid rocky markets and a slowdown in the venture capital sector.
The firm is seeking to raise about $300 million in new capital, the people said, asking for anonymity because the talks are private. Swedish investment firm EQT AB acquired a majority stake in Banking Circle in 2018 from Saxo Bank and other minority owners.