Britain’s Revolut, valued at $45 billion through a share sale, surpasses some of Europe’s largest banks, the firm announced Friday.
Revolut stated that Coatue, D1 Capital Partners, and Tiger Global are leading the share sale, allowing employees to cash out.
The valuation strengthens Revolut’s status as one of Europe’s most valuable fintech companies.
At $45 billion, it exceeds Societe Generale’s $19 billion and Barclays’ $43 billion market caps, per LSEG data.
Traditional European banks, constrained by weak profitability and regulations, face lower valuations. Conversely, investors see stronger growth potential in Revolut.
It has rapidly grown, reporting a record pretax profit of £438 million and now serving 45 million customers worldwide.
Investors think the UK banking license will attract app-based customers, benefiting from lower costs compared to traditional branch networks.
Revolut Secures UK Banking License, Eyes Growth and IPO
Founded in 2015 by CEO Nikolay Storonsky, Revolut is a leading fintech app from Britain, valued at $33 billion in 2021.
Last month, it secured a UK banking license, ending a three-year wait after overcoming scrutiny over internal accounting.
Revolut’s spokesperson declined to comment on whether investors reduced their stakes or if CEO Storonsky sold any shares, including the sale size.
Sky News previously reported that Storonsky would sell part of his multibillion-dollar stake, estimated at $500 million.
Revolut has indicated plans to go public; however, interim CFO Victor Stinga recently avoided commenting on the IPO timeline.
Philippe Laffont of Coatue praised Revolut’s impressive product suite, noting it meets customer needs and transforms global banking.
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