Revolut, the British neobank, has achieved a staggering $75 billion valuation following a new share sale, cementing its status as one of Europe's most valuable private technology companies.
The company announced on Monday that the funding round was spearheaded by prominent investors Coatue, Greenoaks, Dragoneer, and Fidelity. Additional participation came from notable backers including Nvidia's NVentures, Andreessen Horowitz, Franklin Templeton, and other investors advised by T. Rowe Price Associates.
While Revolut did not disclose the exact amount raised in the share sale, it confirmed that the deal allowed employees to cash out some of their holdings. The company was previously valued at $48 billion and has accumulated a total of $2.89 billion in venture capital, according to PitchBook.
Global Expansion and Diverse Offerings
Founded in 2015, Revolut has rapidly expanded its suite of services, which includes multi-currency accounts, payment and transfer solutions, crypto products, and insurance. This latest funding arrives as the neobank aggressively pours resources into broadening its international footprint.
Beyond the UK, where it awaits final approval to operate as a full-fledged bank, Revolut holds a banking license in the European Union and maintains operations in Australia, Japan, New Zealand, Singapore, Brazil, and the U.S. The company launched operations in India in October, is set to begin operating in Colombia in 2026, and has already secured a banking license in Mexico.
Revolut's ambitious plans also include launching in Argentina, entering the African market starting with South Africa, and obtaining an in-principle payments license in the UAE.
Strong Financial Performance
Financially, Revolut has demonstrated robust growth. In 2024, the company's revenue reportedly surged by 72% to $4 billion, and it recorded a net profit of $1 billion (£790 million), according to its latest annual report. Additionally, Revolut claims to have achieved $1 billion in annualized revenue for the current year. Its Wealth division, which includes the crypto exchange Revolut X, saw its revenue jump 298% to $647 million in 2024, up from $158 million in 2023.
Ambitious Future Vision
The company harbors grand ambitions, targeting 100 million customers by mid-2027 and aiming to enter over 30 new markets by 2030.
"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," said Nik Storonsky, CEO and co-founder of Revolut.
