Revolut, the London-based financial technology company, has completed a secondary share sale valuing the business at $75 billion. This represents a 66% increase from its $45 billion valuation last year, highlighting the company’s rapid growth. Revolut offers a range of financial services, including currency exchange, debit cards, and cryptocurrency trading. Founded by CEO Nikolay Storonsky and CTO Vlad Yatsenko, Revolut has become a leading fintech player in Europe.
The share sale was led by investors Coatue, Greenoaks, Dragoneer, and Fidelity. Additional participants included Andreessen Horowitz, Franklin Templeton, and Nvidia’s venture capital arm. The $75 billion valuation surpasses that of several publicly listed banks, including Barclays, Societe Generale and Deutsche Bank. This valuation comes despite Revolut’s ongoing pursuit of a UK banking licence.
The company said this marks the fifth time it has provided employees with an opportunity to sell their shares. CEO Storonsky thanked his team for their determination and belief in building a global financial and technology leader from Europe. Storonsky has stated that securing a full UK banking licence remains his top priority, despite previous setbacks.
While analysts recognise Revolut’s strong technology and brand appeal, they note that a significant portion of its revenue still comes from cryptocurrency trading and income from higher interest rates. The company aims to compete with traditional lenders by expanding its offerings to include consumer credit, mortgages, and business loans. Revolut is also considering acquiring a U.S. bank to further its growth in the American market.
