Revolut Valued at $45 Billion in Secondary Share Sale

Revolut signed agreements with investors for a secondary share sale that values the company at $45 billion.

The British FinTech launched the secondary share sale to provide liquidity to employees and to attract both new and existing investors, according to a Friday (Aug. 16) press release.

“We’re delighted to provide the opportunity to our employees to realize the benefits of the company’s collective success,” Revolut CEO Nik Storonsky said in the release. “It’s their hard work, innovation and dedication that has driven us to become the most valuable private technology company in Europe. We’re also excited to partner with several new investors who share our vision as we continue our journey to redefine the banking landscape as we’ve known it.”

Revolut attributed the valuation to its financial performance in recent quarters, which includes revenues of $2.2 billion in 2023 — a figure that’s 95% higher than that of the previous year — and a profit before tax of $545 million, which is a company record.

In the first half of 2024, Revolut recorded an annual increase in revenue of over 80% and improved profitability and growth in its customer base, putting it on track to surpass 50 million customers by the end of the year, according to the release.

In other developments this year, the company secured a banking license in Mexico; was granted a banking license in the United Kingdom; and launched the RevPoints Loyalty Programme, eSIMs and the Revolut X crypto exchange, per the release.

The secondary share sale was led by Coatue, D1 Capital Partners and Tiger Global.

Revolut was preparing to sell employee-owned shares in July. It was reported at the time that the sale would increase its valuation by more than a third, indicate rising confidence in the FinTech space and set the stage for an initial public offering (IPO).

The company was previously valued at $33 billion in a 2021 fundraising.

Revolut Chair Martin Gilbert said in July that the company was at least a year away from an IPO and was planning to “keep an open mind” on where that listing would happen.