Revolut has announced the completion of a major secondary share sale that places the company at a valuation of 75 billion dollars. This represents a significant uplift on last year's valuation and reflects the pace at which the digital financial services provider continues to expand.
The latest transaction attracted participation from a wide range of global investors, including Coatue, Greenoaks, Dragoneer and Fidelity. Additional interest came from established venture capital firms such as Andreessen Horowitz, along with Franklin Templeton and the investment arm of Nvidia. Although the valuation comes through private market activity, it positions Revolut ahead of several long established European banking groups in terms of implied market worth.
Revolut, founded ten years ago by Nikolay Storonsky and Vlad Yatsenko, has become one of the most prominent fintech companies in Europe. The business has grown to more than 65 million users worldwide and recorded a pretax profit of £1.1 billion last year. This represented a sharp increase compared with the previous period and highlights the strength of its commercial model. The firm noted that this latest transaction marks the fifth occasion on which employees have been given the chance to sell shares, a move that has generated substantial returns for early staff and investors over recent years.
The company now serves more than 3 million customers in Ireland alone, contributing to its global user base and reinforcing its role in the wider digital banking sector. Storonsky, who has recently relocated to Dubai, expressed his appreciation for the team behind the business and reiterated his aim of securing a full UK banking licence. This remains one of the company’s key strategic goals and is viewed as essential for expanding its range of regulated services.
Market analysts acknowledge the strength of Revolut’s technology and brand, although they continue to point out that a significant portion of its income is generated from cryptocurrency trading and interest related revenue. Deposits remain lower on average than those held with traditional banks, and Revolut itself recognises that many customers use the platform as a secondary account rather than their main banking provider.
The company is seeking to diversify its offering by entering markets traditionally dominated by established lenders. Revolut has signalled plans to expand into consumer credit, mortgages and business lending. It is also exploring the possibility of acquiring a bank in the United States to accelerate its presence in that market.
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