Revolut is now worth $75bn following a secondary share sale, marking a 60% jump on the $45bn price tag it reached last year.
Founded in 2015, Revolut has steadily risen to become Europe’s biggest neobank, with close to 65m users in more than 40 countries around the world.
In a statement issued on Monday, Revolut said the secondary share sale was led by Coatue, Greenoaks, Dragoneer and Fidelity Management & Research Company, with participation from a broad group of investors, including Andreessen Horowitz.
Sifted previously reported details of the share sale in September. Months earlier, the company was said to have been targeting a fresh fundraise at a $65bn valuation.
In a LinkedIn post, cofounder and CEO Nik Storonsky said he aimed to take the number of customers Revolut has to 100m, with plans to enter 30 new markets over the next four years.
“This milestone reflects the continued progress Revolut has made towards our goal of building the world's first truly global bank,” he wrote. “It is also proof that a global technology leader can be built from Europe.”
Earlier this year, leaked internal documents revealed details of Revolut’s plans for global expansion, including plans to roll out overdrafts and fixed-term savings accounts across the EU, as well as launching its credit card product in Mexico, Brazil, Australia and Singapore by the end of 2026.
“The level of investor interest and our new valuation reflect the strength of our business model, which is delivering both rapid growth and strong profitability,” says CFO Victor Stinga.
“We welcome onboard a series of world-class investors and look forward to working with them for the next stage in Revolut’s evolution.”
