UK-based financial technology company Revolut has announced plans to form a private markets team to expand its wealth management services, according to a Bloomberg report. 

Revolut is looking for asset managers, junior investment bankers or private capital advisers to help develop private market fund investment options for its users. 

The job listing specifies that the role involves establishing connections with fund managers across the private capital ecosystem. 

According to the report, the development comes as private markets continue to increase in size and relevance. Major global exchanges are exploring new futures and options products linked to the $16tn privately-held assets sector. 

However, some industry personnel have expressed concerns about rising valuations, limited regulatory oversight, and broader economic factors, the publication said. 

These factors are said to contribute to increased risk in certain segments of the private markets. 

Revolut currently provides its nearly 70 million users with access to US and European equity trading through its app. 

In November last year, the company extended its offering to include British blue-chip stocks after obtaining a UK trading licence. 

Earlier this year, Revolut introduced its Robo-Advisor service in Singapore to facilitate automated investing. This service is designed to simplify the investment process for customers by providing a customised portfolio management solution. 

The Robo-Advisor allows Singaporean customers to invest in a diversified portfolio without the need for extensive research or active management. 

It is particularly beneficial for those with limited time or trading experience, stated the company.