Revolut hits $45 bln valuation in secondary share sale

Investing.com -- Fintech company Revolut has secured a valuation of $45 billion through a secondary share sale, the company said in a statement on Friday.

The sale will provide liquidity to employees. The move, designed to provide liquidity for employees, attracted a group of leading technology investors, including Coatue, D1 Capital Partners, and existing backer Tiger Global.

The secondary share sale comes on the heels of a strong financial performance for Revolut. The company reported revenues of $2.2 billion in 2023, a 95% year-on-year increase, and a record profit before tax of $545 million. 

This upward trajectory has continued into 2024, with revenue growth exceeding 80% and improved profitability.

With over 45 million customers globally and a target of 50 million by the end of the year, the company is rapidly expanding its user base. 

Recent milestones, such as securing a banking license in Mexico and the granting of a UK banking license, further solidify Revolut's position as a global financial powerhouse.

With this latest valuation, Revolut continues to outshine its competitors and solidify its position as a leading player in the global fintech landscape.

 

Source: Investing.com