Revolut's valuation jumped to $115 billion in a secondary share sale, up 53% from its previous valuation a year ago. Investors including Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates, and Baillie Gifford led the transaction, which brought no new capital into the company.
Founded in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut operates as a financial services platform with more than 80 million retail customers across over 40 countries. The London-based company achieved profit margins of 38% on $6 billion in revenue in 2025.
Revolut has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national bank, which it plans to launch in the first half of 2027, subject to final regulatory approval. The company has also established banking operations across Europe and launched banks in the U.K., Mexico, Australia, and New Zealand this year. It received banking licenses in France, Colombia, and Argentina.
Revolut Business, the company's business banking division launched in 2017, now accounts for about 20% of Revolut's gross profit. The division processes more than £36 billion (about $48.6 billion) in transactions monthly across Europe, the U.K., Singapore, Australia, New Zealand, and the U.S. It generates over £950 million (about $1.28 billion) in annualized revenue and holds more than £18 billion (roughly $24.3 billion) in customer deposits. James Gibson, head of Revolut Business, said the division aims to grow its business customer base from over 800,000 to a million by 2027. The company plans to expand business banking to Mexico, Brazil, and India.
Storonsky has considered a dual listing in New York and London, with a preference for a primary listing in the U.S. An IPO could value Revolut at $200 billion but would come no earlier than 2028, depending on market conditions.