FinTech News
Revolut Reaches $75 Billion Valuation with Latest Fundraising
The London-based neobank Revolut has announced a new valuation milestone.
About Revolut’s Fundraising and Valuation:
This week, Revolut revealed the completion of its latest fundraising process. While the FinTech did not state how much was raised, it did state the share sale gave the company a valuation of $75 billion. For context, it was valued at $45 billion last year and at $5.5 billion after a Series D back in 2020.
The latest transaction was led by Coatue, Greenoaks, Dragoneer, and Fidelity Management & Research Company. Andreessen Horowitz, Franklin Templeton, and accounts advised by T. Rowe Price Associates, Inc. were also among the participants. NVentures (a VC arm of NVIDIA) also invested, with Revolut noting that this partnership will help expand the app’s AI integrations.
As part of this fundraising, Revolut employees were given the opportunity to sell their shares. This is the fifth share sale employees have had to date, with the neobank noting that it offers “one of the most liquid employee share programs across private companies in the industry.”
News of this valuation update comes as Revolut continues to expand. In the United States, the service recently introduced a new high-yield savings product for customers. Elsewhere, reports suggest that the company has considered acquiring a U.S.-based lender. Alternatively, Revolut could re-submit for its own banking license (it previously attempted to obtain one in 2021 but ultimately withdrew that application).
What They’re Saying:
Commenting on the latest transaction and valuation, Revolut CEO and co-founder Nik Storonsky said, “This milestone reflects the remarkable progress we have made in the last twelve months towards our vision of building the first truly global bank, serving 100 million customers across 100 countries. I’d like to thank our team for their determination and energy, and for believing that it is possible to build a global financial and technology leader from Europe.”
Similarly, the company’s CFO Victor Stinga remarked, “The level of investor interest and our new valuation reflect the strength of our business model, which is delivering both rapid growth and strong profitability. We welcome on board a series of world-class investors and look forward to working with them for the next stage in Revolut’s evolution.”
My Thoughts:
When I first discovered the Revolut app years ago, I was blown away by all of the unique features and services it offered. Yet, even I couldn’t have imagined how much the company would grow. Looking at the neobank’s trajectory is nothing short of mindblowing — especially given the headwinds it’s faced at times. With the company seemingly intent on making an even bigger splash stateside and further global expansion also in the cards, it will be fascinating to see what new heights Revolut can reach.
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