In a recent announcement, British fintech startup Revolut revealed that it had reached a valuation of $45 billion through a secondary share sale involving both existing and new investors. This valuation represents a substantial increase from the $33 billion the company was valued at just a few months ago in July 2021. According to Revolut, this valuation is a reflection of the strong financial performance the company has demonstrated in recent quarters, as well as the successful execution of its strategic objectives.
The secondary share sale was led by prominent investors such as Coatue, D1 Capital Partners, and existing investor Tiger Global. While the total value of the shares on sale was not disclosed, the involvement of these high-profile investors indicates a high level of confidence in Revolut’s future potential. Revolut CEO Nik Storonsky expressed his excitement about the partnership with new investors, stating that they share the company’s vision of revolutionizing the banking industry.
The milestone $45 billion valuation comes shortly after Revolut was granted a banking license in the U.K. after a three-year waiting period. The delay in obtaining the license was due to several issues, including discrepancies in Revolut’s share structure that did not align with the U.K.’s Prudential Regulation Authority guidelines. These issues have since been resolved, allowing Revolut to move forward with its plans to offer banking services such as customer deposits, loans, and credit cards.
With the acquisition of the banking license and the successful secondary share sale, Revolut is now focused on building its banking infrastructure in the U.K. in preparation for an official launch. The company’s ability to attract significant investments and achieve a record valuation underscores its position as a leader in the fintech industry. As Revolut continues to expand its services and reach new milestones, it is poised to make a significant impact on the traditional banking landscape.
Leave a Reply