Digital bank Revolut, which is currently claiming more than 65 million users throughout the world, has recently announced the completion of a share sale, valuing the Fintech company at $75 billion. The transaction has reportedly been led by Coatue, Greenoaks, Dragoneer, Fidelity Management and Research Company, along with participation from a select group of investors such as Andreessen Horowitz (aka a16z), Franklin Templeton, and T. Rowe Price Associates, Inc.
This sale has also reportedly included investments coming from NVentures (NVIDIA’s VC unit), extending Revolut’s collab with the global technology enabler in fast-evolving sectors such as artificial intelligence.
Current workers had been offered the opportunity to sell as part of this latest transaction. Revolut has reportedly enabled 5 share sales, to date, for its employees, which is said to be a testament to its commitment to sharing progress, by running one of the “most liquid” employee share programs across private firms in the sector.
The $75 billion valuation is said to be underpinned by the Fintech company’s steady business momentum and solid financial performance. Revolut’s 2024 revenue surged 72% to $4.0 billion, with profit before tax growing 149% to $1.4 billion. This progress has continued this year as well, with the international retail customer base exceeding 65 million and Revolut Business now hitting $1 billion in yearly revenue.
This year, Revolut has also reported a number of international expansion milestones, such as its final banking authorisation and planned roll-out in Mexico, its banking incorporation licence issued in Colombia, and now anticipated launch in India.
This steady growth and penetration of key markets is a key part of the Fintech firm’s strategy to build out a globally-accessible bank.
Nik Storonsky, CEO and the Co-founder at Revolut, has commented that this significant milestone reflects the steady progress they claim to have made in the past year towards their goal of building a truly international bank, serving approximately 100 million customers across 100 different countries.
Victor Stinga, CFO of Revolut, said that the level of investor interest and their latest valuation reflect the strength of their business model, which is enabling both steady growth and consistent profitability.
Stinga added that they are welcoming and onboarding the new investors and look forward to working cooperatively with all of them for the next phase of Revolut’s business growth.