Revolut’s valuation could surge to as much as $10bn (£8bn) in the coming years as finance start-ups hit extraordinary growth trajectories to challenge US giants, according to a board member and one of Europe’s top venture capitalists.

The financial technology start-up, which is planning to raise as much as $500m this year from investors, has accumulated six million customers in just four years.

According to Draper Esprit chief executive Simon Cook, a board member and investor at the start-up, Revolut is one of a clutch of European start-ups on track to be worth tens of billions of pounds.

“This generation like N26, UiPath, Revolut and Transferwise are growing twice as fast [as previous start-ups],” Cook said. “They could get to £500m in revenues in five years. This means we are building real, $10bn companies in Europe for the first time.”

London headquartered Revolut last raised $250m in early 2018 at a valuation of $1.7bn, although chief executive Nikolay Storonsky has said it expects to be valued around at least $20bn before any public offering. Its investors include DST Global, an early investor in Facebook, and Index Ventures.

The start-up has added millions of tech-savvy customers using its mobile payment and money transfer app and debit cards.