Summary
Revolut's $115B secondary-share-sale valuation (up 50%+, at $2,017/share) makes it Europe's most valuable startup and values it above Barclays' market cap — achieved via a secondary sale rather than a primary raise, signaling deep secondary-market demand rather than capital need. The milestone follows a multi-year regulatory conversion of an FX/trading app into a full deposit-taking bank.
Key Points
- Secondary share sale values Revolut at $115B (up 50%+); share price $2,017; confirmed to employees by CEO Nik Storonsky.
- Surpasses Barclays' market cap; Europe's most valuable startup.
- Achieved via secondary sale (existing shareholders trade) — strengthens internal liquidity without issuing new equity.
- Full UK banking licence obtained; FY2024 revenue $4B; 70M+ users globally.
- Regulatory conversion: full Australian ADI licence (first global fintech to get unrestricted ADI, first Revolut banking entity in APAC); US national bank charter filed.
- Australia: plans to invest AU$400M (~$280M) over 5 years to move 1.2M customers to regulated bank; 3% savings rate vs CBA's 2.15%.
- Next strategic step: consolidate protected deposits and large-scale credit products.
- Globally plans $13B over 5 years to enter 30+ new markets and reach 100M customers.
- Reported secondary sale at $115B valuation had been considered in June (after UK banking licence in March).