Revolut becomes the world’s largest fintech company with a valuation of $75bn

Increase in valuation comes after a secondary share sale where employees could sell their shares

Trade

Revolut has reached a valuation of $75 billion (about €65 billion) following a recent fundraising round. This makes Revolut the world’s most valuable fintech company.

The increased valuation follows a secondary share sale, in which employees were able to sell their shares. Leading investors such as Coatue, Greenoaks, Dragoneer and Fidelity Management and Research Company took part in the transaction, alongside Andreessen Horowitz and NVentures, Nvidia’s venture capital arm.

Revolut serves more than 65 million customers worldwide and generated $4 billion (roughly €3.5 billion) in revenue last year, up 72% on the previous year. Pre-tax profits also surged, rising by 149% to $1.4 billion (around €1.2 billion).

Founded in 2015, the company has actively expanded its global footprint. Recent acquisitions of banking licenses in Mexico, the United Arab Emirates, and India underscore Revolut’s ambitions.

There are also plans to enter the Argentinian, Colombian, South African, Australian, and New Zealand markets. However, the new bank is still awaiting final approval from regulators in its home market, the UK.

Business AM

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