Revolut

Fintech · Digital Banking

Milestone

Revolut confirms $115B valuation after secondary share sale

Private investors now price the fintech above Barclays and Société Générale despite a tiny loan book.

• Revolut completed a secondary share sale valuing the company at $115 billion, up 53% from the $75 billion mark set a year earlier, led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford.
• Founded in 2015, the London-based fintech has grown from a money-transfer app into a global banking platform with more than 80 million retail customers in over 40 countries.
• No new capital entered the company; employees and early backers simply sold existing shares at roughly $2,017 apiece to set the new price.
• Revolut's 2025 revenue rose 46% to $6 billion and pretax profit climbed 57% to $2.3 billion, a 38% margin, underpinning investor confidence in the higher price.
• The valuation has nearly tripled in two years, climbing from $45 billion in 2024 to $75 billion in 2025 and now $115 billion.
• At $115 billion, private investors now value Revolut above listed banks Barclays and Société Générale, even though it held just £2.2 billion in loans and a 6% loan-to-deposit ratio versus 55% at HSBC.
• The deal cements Revolut as Europe's most valuable private tech company and shows investors are betting on scale and diversified fee revenue to eventually outgrow a thin lending book ahead of a targeted 2028 IPO.