Revolut cards are seen in this illustration taken in Krakow, Poland on March 29, 2024.
Jakub Borzycki | Noor Photo | Getty Images
British fintech firm Revolut said on Friday it was valued at about $45 billion in a secondary share sale with existing and new investors.
“This assessment reflects the company’s strong financial performance in recent quarters as well as the progress it has made in executing its strategic objectives,” Revolut said in a statement.
The company said the round was led by Coatio, D1 Capital Partners and existing investor Tiger Global, without disclosing the total value of the shares being offered for sale.
The $45 billion deal sharply increases the company's valuation from $33 billion recorded in July 2021.
“We are excited to offer our employees the opportunity to benefit from the collective success of the company,” said Nick Storonsky, CEO of Revolut. “We are also excited to partner with so many new investors who share our vision as we continue our journey to redefine banking as we know it.”
The assessment comes just weeks after Revolut was granted a banking license with restrictions in the UK, ending a three-year wait after first applying for the license in 2021.
A series of issues led to the delay, including Revolut's share structure being non-compliant with rules set by the UK's Prudential Regulation Authority, which has since been resolved.
The license allows Revolut to take customer deposits and issue products such as loans and credit cards. The company is now preparing to build its banking infrastructure in the UK ahead of its official launch.
