Anika Begay
Revolut has confirmed a new valuation of $45 billion in a secondary market share sale, shortly after the UK-based neobank was granted banking licenses in the UK and Mexico.
The news positions Revolut as one of Europe’s most valuable private technology companies.
Founded in London in 2015, Revolut is one of a number of fintechs that have emerged from Europe over the past decade to challenge the big banks. Revolut offers a range of services from multi-currency accounts, payment and transfer services, crypto products, insurance and more. The company has also expanded beyond the UK into international markets, including Europe and the US.
Revolut has raised around $1.7 billion since its founding, its most recent round coming via an $800 million Series E in 2021, where it declared a valuation of $33 billion. In the years since, against the backdrop of a global economic crisis, Revolut’s valuation has reportedly fallen at various points, with speculation emerging last year that it may have fallen to around $20 billion.
However, as a private company, nothing has ever been confirmed. But in the wake of record profits this year and strong user growth, with customers hitting 45 million, rumors emerged that the company was seeking a valuation of around $40 billion, and now that has been confirmed.
Revolut today announced a secondary share sale designed to stimulate “employee liquidity,” which the company says helps it “realize its contribution to Revolut’s growth.”
“It is their hard work, innovation and dedication that have driven us to become the most valuable private technology company in Europe,” Revolut CEO Nik Storonsky said in a statement.
The secondary sale involved a mix of new and existing investors, led by Coatue, Tiger Global and D1 Capital Partners.
A $45 billion valuation, combined with its recent strong financials, user metrics, and newly acquired banking licenses, positions Revolut well as it enters the next phase of its evolution. Indeed, all eyes will be on the company’s IPO plans, with reports suggesting it favors a U.S. listing, though the U.K. government is looking to steer them toward domestic shores.
