London-based digital bank Revolut has solidified its position as Europe’s most valuable private company after completing a secondary share sale that places a $115 billion valuation on the business—a 53 percent jump from the $75 billion figure set in a similar transaction roughly a year earlier.
The deal, led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates, and Baillie Gifford, involved existing shares held by employees and early backers rather than fresh capital for the company itself.
Shares reportedly changed hands around the $2,017 level, though Revolut declined to disclose the total volume sold.
The milestone rests on audited results for 2025, when group revenue climbed 46 percent to $6.0 billion and pre-tax profit rose 57 percent to $2.3 billion, expanding the pre-tax margin to 38 percent.
Revolut now serves more than 80 million retail customers across dozens of markets.
In 2026 alone it launched full banking operations in the UK, Mexico, Australia, and New Zealand, secured banking licences in France, Colombia, and Argentina, and obtained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter that it aims to activate in the first half of 2027.
The company continues to operate as a bank across 30 EEA markets and has begun rolling out services in India.
CEO Nik Storonsky has described employee ownership as core to the culture and framed the latest sale as another opportunity for staff to participate in the value created on the path toward 100 million customers and operations in more than 100 countries.
An IPO is not expected before 2028, with some reports suggesting a potential public valuation approaching $200 billion under favorable conditions.
Even as the valuation soared and thousands of employees reportedly realized gains by selling stock, Revolut has begun reducing headcount through performance reviews.
Reports indicate dozens of staff—primarily in the Revolut Business unit serving small and medium-sized enterprises, and involving sales roles in the UK and other European offices—are departing.
A company spokesperson stated that the exits align with routine quarterly performance assessments seen in prior periods and do not constitute a formal layoff program.
With roughly 15,000 employees overall, the scale remains limited relative to the workforce, yet it coincides with the firm’s emphasis on operational discipline.
This staffing approach fits Revolut’s intensifying focus on artificial intelligence as a lever for productivity and cost control.
Recent internal efforts show the company shifting coding workloads for approximately 2,000 engineers away from commercial tools such as Anthropic’s Claude and OpenAI’s Codex toward self-hosted open-weight models (notably from Z.ai’s GLM series) running on its own infrastructure of about 56 Nvidia B200 GPUs.
The change has reduced inference costs by roughly 90 percent, to around $0.30 per million tokens, while delivering reported improvements of about 60 percent in coding time and 70 percent in lead time from task pickup to merge.
Executives have cited skepticism about unpredictable commercial AI bills and a preference for predictable, auditable, privacy-friendly setups that free engineers from token limits.
By embedding AI into development workflows and maintaining strict performance standards, Revolut appears to be pursuing a leaner model that supports rapid global banking expansion without proportional headcount growth.
The valuation leap, measured staff adjustments, and AI-driven efficiency gains portray a company prioritizing scalable technology and selective talent over broad expansion of headcount as it challenges traditional banks.
Whether these steps sustain the trajectory toward a major public listing will depend on continued profitability, regulatory progress in key markets such as the United States, and the ability to convert customer growth into deeper banking relationships.
