Revolut
wrapped up a share sale that pegs the fintech company at $75 billion, pulling
in investment from Nvidia’s venture capital unit and several heavyweight
institutional investors.
The new
number represents a sharp uptick from the $45 billion valuation Revolut carried last
year. Victor Stinga, the company’s Chief Financial Officer, attributed the jump
to investor appetite and what he called the company’s ability to pair fast
growth with actual profits.
Revolut Revenue Climbs as
Customer Base Expands
Revolut
posted $4 billion in revenue for 2024, a 72% increase from the prior year.
Profit before tax hit $1.4 billion, up 149%. The company said that momentum
carried into 2025, with its global retail customer base now exceeding 65
million and its business arm bringing in $1 billion on an annualized basis.
“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,” Revolut
Chief Financial Officer Victor Stinga said in the statement.
The
platform offers checking and savings accounts, cross-border money transfers,
cryptocurrency and stock trading, along with bill payment and budgeting
features. Chief executive Nik Storonsky has set a target of reaching 100
million customers across 100 countries.
The
transaction drew participation from Coatue, Greenoaks, Dragoneer and Fidelity
Management & Research Company, who led the round. Andreessen Horowitz,
Franklin Templeton and accounts managed by T. Rowe Price also joined, alongside NVentures, which is
deepening ties with Revolut around artificial intelligence applications.
Expansion Plans Take Shape
Across Multiple Regions
Revolut has
been lining up regulatory approvals to enter 30 new markets, including
Mexico, Colombia and India. The company received final banking
authorization in Mexico and secured a banking incorporation license in
Colombia, with launches planned in both countries. An India entry is also in
the works.
Storonsky
has made it clear that obtaining
a full UK banking license remains his main focus. Revolut received initial
approval in July 2024 and entered a mobilization phase, though the process has
stretched over several years. A full license would allow the company to move
customers onto a new banking entity and offer them credit products.
Employee Liquidity
Opportunity Marks Fifth Share Sale
Revolut
opened the transaction to current employees, giving them a chance to sell
shares. This marks the fifth time the company has provided liquidity to staff
through such a program.
The fintech
has earmarked roughly $13 billion to fund its global expansion and
infrastructure buildout as it works toward Storonsky’s goal of creating what he
described as “the first truly global bank.”
This article was written by Damian Chmiel at www.financemagnates.com.
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