Revolut investors are pushing the company to offer a secondary share sale at a $60bn valuation, according to reports.
Founded by Nikolay Storonsky and Vlad Yatsenko in 2015 as a financial travel app, Revolut has since expanded into a range of different services, including business banking, travel insurance, savings and stock trading.
The new valuation would mark a significant jump on the $45bn price tag Revolut earned in a secondary share sale just six months ago. According to a report published by Bloomberg on Thursday, existing shareholders have indicated interest in some of their stock.
It comes ahead of an expected public listing for Revolut, which industry insiders previously told Sifted is likely to happen in New York over London. Bloomberg reported that Revolut was unlikely to go public before 2026, and that the company's leadership was leaning towards listing in the US.
Sifted recently revealed Revolut was making a push into private banking for wealthy individuals, putting it in direct competition with big incumbents like UBS and Morgan Stanley.
The fintech giant is developing a private banking service for high-net-worth individuals (HNWIs), typically defined as people who hold liquid assets of over $1m, according to three job listings on its website.
Sifted approached Revolut for comment.
