Revolut has been valued at a whopping $45 billion, following an employee secondary share sale, making it Europe’s most valuable startup.
The UK-headquartered fintech today (Friday) said that Coatue, D1 Capital Partners, and existing investor Tiger Global were among investors who purchased shares from Revolut employees.
The share sale allows Revolut employees to cash in with the sale of stock while bringing new investors to Revolut’s cap table.
Nik Storonsky, CEO of Revolut, said:
“We’re delighted to provide the opportunity to our employees to realise the benefits of the company's collective success.
"It’s their hard work, innovation, and dedication that has driven us to become the most valuable private technology company in Europe.”
The announcement of Revolut's valuation follows a report today that the UK government is planning talks with Revolut top brass, to sway the challenger bank to list in London, not New York.
The report in the Financial Times says that Revolut, which has over 45 million customers, favours a potential New York listing.
Revolut, which was valued at $33bn in 2021 following a $800m investment round, has been tussling it out with Klarna and Checkout.com for the prize of Europe's most valuable startup
This latest public valuation makes Revolut top of the pile.
According to Reuters. Revolut is now also valued higher than French bank Societe Generale, which has a market cap of $19bn and Barclays, valued at $43bn.
Revolut, which recently bagged a UK banking licence, reported revenues of $2.2 billion and pre-tax profits of $545 million in 2023.
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