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 significantly boosts the company’s valuation July 2021 revenue of $33 billion.
“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 as we continue to redefine the banking landscape as we know it.”
The valuation comes just weeks after Revolut went public. Obtain a restricted banking license In the UK, the three-year wait after first applying for a license in 2021 has ended.
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.
