A Revolut card can be seen in this illustrated photo taken in Krakow, Poland on March 29, 2024.
Jakub Bolzycki | Noor Photos | Getty Images
British fintech startup Revolut said on Friday it was valued at $45 billion in a secondary share sale to existing and new investors.
“This valuation reflects the company’s strong financial performance in recent quarters and progress in executing its strategic objectives,” Revolut said in a statement.
The company noted that the round was led by Coatue, D1 Capital Partners and existing investor Tiger Global, but did not disclose the total value of the shares sold.
The $45 billion deal boosts the company’s valuation significantly from $33 billion in July 2021.
“We are pleased to offer our employees the opportunity to benefit from the company’s collective success,” commented Nik Storonsky, CEO of Revolut. “We are also excited to partner with several new investors who share our vision to continue our journey of redefining the known banking landscape.”
The valuation comes just weeks after Revolut secured a restricted banking license in the UK, ending a three-year wait since first applying for a license in 2021.
A series of issues caused delays, including that Revolut’s shareholding structure did not comply with rules set by the Prudential Regulation Authority, which has now been resolved.
The license allows Revolut to take customer deposits and issue products such as loans and credit cards. The company is currently preparing to set up banking infrastructure in the UK ahead of its official launch.
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