Adult video platform to sell minority stake to increase stability after death of its owner Leonid Radvinsky

OnlyFans, the UK adult video platform, is in talks to sell a minority stake to a US investor that will value the business at more than $3bn (£2.2bn).

The London-based company is in advanced talks to sell a stake of less than 20% to the San Francisco-based investment firm Architect Capital, according to the Financial Times. Sources familiar with the process confirmed the talks to the Guardian.

OnlyFans has decided that offloading a minority stake is the best guarantee of stability for a business dealing with the death of its owner, Leonid Radvinsky. Radvinsky, a Ukrainian-American billionaire, died of cancer last month at the age of 43.

It is understood that OnlyFans is interested in a deal with Architect because the firm has expertise in the financial services sector, reflecting the UK company’s interest in offering banking products to its creators, who have struggled to access such services owing to the nature of their work.