UK challenger Revolut has completed a secondary share sale at a renewed company valuation of $75 billion. The 67% valuation increase, up from $45 billion in 2024, comes as Revolut prepares to enter new markets in Asia and South America.
Coatue, Greenoaks, Dragoneer, and Fidelity Management and Research Company co-led the transaction, with support from Andreessen Horowitz, Franklin Templeton, T Rowe Price Associates, and Nvidia’s venture capital unit, NVentures.
Current employees were given the opportunity to sell their shares as part of the transaction, with Bloomberg pricing shares at $1,381.06 in September. Revolut has now enabled five such share sales for its employees to date,previously raising $500 million in August last year.
Nik Storonsky, CEO and founder of Revolut, says the latest round of funding will be used to extend operations to 100 million customers across 100 continues. “We are preparing to launch full operations in major new economies, including India and Mexico, and have an ambitious target of 30 new markets by 2030,” Storonsky posted to LinkedIn.
Revolut secured final authorisation from the National Banking and Securities Commission (CNBV) last month to launch operations in Mexico, when a proposed integration with India’s Unified Payments Interface (UPI) system was also announced. An exact timeline for launching in these two markets has not been disclosed.
Separately, Revolut also received in-principle approval from the Central Bank of the UAE for two payments licenses in September, which has set the challenger up to offer stored value facilities and retail payment services in the Emirates.
The London-headquartered company currently serves around 65 million customers, and recorded $4 billion in revenue last year, with profit before tax standing at $1.4 billion.
Source: https://www.fintechfutures.com/
