Revolut hits $115B valuation, up 53% in a year, as US bank launch nears

Revolut's backers have wrapped a secondary share sale that values the London fintech at $115 billion. That's 53% above the valuation it notched in a similar sale a year ago, according to TechCrunch. The deal moved existing shares between investors, so Revolut itself pocketed nothing new, and the company stayed quiet on how much stock changed hands.

The buyer list reads like a who's who of growth investing: Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford led the round. Founded in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut started life as a money-transfer app. It now serves more than 80 million retail customers across over 40 countries.

The banking push is moving fast. Revolut launched banks in the UK, Mexico, Australia and New Zealand this year, locked in licenses in France, Colombia and Argentina, and kicked off financial services in India. In the US, it has conditional approval from the Office of the Comptroller of the Currency to set up a national bank, with a launch targeted for the first half of 2027 pending final sign-off.

The money engine is humming too. Revolut hit 38% profit margins on $6 billion in revenue for 2025. Business banking, rolled out in 2017, now drives roughly 20% of gross profit, James Gibson, who heads Revolut Business and is a partner at the company, told TechCrunch.

Those business numbers are hefty. Revolut Business pushes more than £36 billion (about $48.6 billion) in monthly transactions across Europe, the UK, Singapore, Australia, New Zealand and the US — with over £1 billion (around $1.35 billion) of that in the US alone. The unit pulls in more than £950 million (roughly $1.28 billion) in annualized revenue and holds over £18 billion (about $24.3 billion) in customer deposits. Nearly half its new US customers are freshly incorporated companies.

Next up: Mexico, Brazil and India for business banking, though Gibson didn't give a timeline. Revolut wants to grow from over 800,000 business customers to a million by 2027. An IPO is on the table too — Storonsky has weighed a dual New York and London listing but leans toward a US primary, and a public debut reportedly valuing Revolut at $200 billion wouldn't come before 2028, market permitting.