Revolut has firmed up its spot as one of Europe’s most valuable start-ups after fetching a US$45 billion (£35 billion) valuation following a share sale to staff.
The fintech firm highlighted the valuation on Friday as it announced a secondary share placement to both technology investors and employees.
Based on the sale, Revolut’s valuation is higher than NatWest Group PLC (LSE:NWG) and Barclays PLC (LSE:BARC)’s market capitalisations of £29 billion and £33.5 billion respectively.
Revolut had 45 million customers as of 2024, with the company adding it was on course to surpass 50 million by the end of this year.
Revenue has increased more than 80% so far this year, the firm said, from US$2.2 billion in 2024, with Revolut securing a long sought-after banking licence in the UK last month.
“[This was] an important step in the company’s continued expansion both in the UK and globally,” Revolut said, as speculation builds over a potential stock market listing in London or the US.