Reform UK's latest funding boost marks "the beginning of the end for the Conservative Party", according to comments made on GB News by Tom Bewick.
The remarks come as former Tory mega-donor Nick Candy defects to Reform UK as its new treasurer.
The political commentator suggested the move represents Nigel Farage's delayed revenge against the Conservatives, stating: "Revenge is a dish best served cold."
He referenced the 2019 election when Farage stood down Reform candidates in 317 constituencies to help Boris Johnson's majority, adding: "The Tories gave Nigel absolutely nothing in return for that, in fact, they danced on his grave."
Property tycoon Nick Candy announced his resignation from the Conservative Party, where he had been a significant donor since 2009.
In a statement, Candy said: "I am sorry to say there have been too many broken promises and a complete breach of trust with the wealth creators in our country."
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The billionaire, who donated more than £270,000 to the Conservatives between 2020 and 2022, will become Reform UK's treasurer in the new year.
Speaking to The Spectator, Candy declared: "I will raise Reform more money than any political party in the UK has every raised. Nigel is going to be PM."
Farage welcomed the appointment, stating: "We are the fastest-growing movement in British politics today."
Speaking to GB News, Candy pledged to "significantly better" the £25-40 million previously raised by other political parties.
The party has already secured over £3 million in pledges from business people today, GB News understands.
"It is not just about getting rich donors and billionaires, we need the guys that have got £1 to £25," Candy said.
He revealed Boris Johnson would be "upset" about losing his support, adding: "But at the end of the day, we're friends. We can have different views on religion, business, politics doesn't mean I'm not your friend."
Candy's appointment follows several high-profile Conservative defections to Reform UK in recent weeks.
Former Conservative MP Andrea Jenkyns joined last month to become Reform's mayoral candidate for Lincolnshire.
Conservative Home founder Tim Montgomerie also switched allegiance last week.
Recent polling has shown Reform UK's growing momentum, with one Find Out Now poll putting the party at 24 per cent, just two points behind the Conservatives.
Such polling suggests Reform UK could win 95 seats at the next election, though Farage told LBC: "I think we can win more than that."
The party is now approaching Conservative membership numbers, with Reform claiming 100,000 members to the Tories' 130,000.
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