British FinTech Revolut valued at $45 billion in secondary share sale

Aanchal Rao

6 months ago

British FinTech Revolut valued at $45 billion in secondary share sale

In an announcement, British fintech start up Revolut says it has been valued at $45 billion in a secondary share sale involving both new and existing investors. “The company’s strong financial performance over the last few quarters coupled with the progress made towards its strategic objectives informs this valuation,” stated Revolut. As recently as weeks before this valuation, Revolut received a restricted banking license in the UK.

As reported by British fintech startup Revolut on Friday, their value has soared to $45 billion after a secondary share sale involving both current and new investors.

“The company’s strong financial performance in recent quarters and the progress made in its strategic objectives are reflected in this valuation,” stated Revolut in a statement.

According to the company, the round was led by Coatue, D1 Capital Partners, and previous investor Tiger Global, although no total value for the shares sold was disclosed.

From July 2021, $33 billion has now become $45 billion.

According to Nik Storonsky, CEO of Revolut, “We are happy to give our employees an opportunity to benefit from this success”. It also leads us into partnership with new investors who share our vision as we redefine banking – or what we thought it was.”

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This valuation comes just weeks after Revolut received banking license with restrictions from the UK after a three-year wait since they first applied back in 2021.

A series of issues caused these delays including inconsistencies between Revolut’s share structure and rules set out by the UK’s Prudential Regulation Authority which has now been resolved.

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