How Did Revolut's Valuation Jump 53% to $115 Billion?

Revolut's valuation has climbed to $115 billion after existing investors completed a secondary share sale, a 53% increase from the price set in a share sale a year earlier, according to TechCrunch. The London-based fintech is using the moment to push ahead with a U.S. national bank it plans to launch in 2027.

What happened in the latest share sale?

The transaction was a secondary sale, meaning existing shareholders sold stock to other investors rather than Revolut raising fresh capital, TechCrunch reported. The company declined to disclose how many shares changed hands. The new $115 billion figure sits well above the valuation from Revolut's prior share sale a year ago, a 53% jump reported by the outlet.

Which investors led the sale?

Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates, and Baillie Gifford led the purchase, per TechCrunch. The outlet did not report the individual size of each investor's stake.

How is Revolut's U.S. bank expansion progressing?

Revolut, founded in 2015 by Nik Storonsky and Vlad Yatsenko, has grown into a financial-services platform serving more than 80 million retail customers in over 40 countries, TechCrunch reported. The company already runs banking operations across Europe and launched banks in the U.K., Mexico, Australia, and New Zealand this year, while securing banking licenses in France, Colombia, and Argentina and rolling out financial services in India.

In the U.S., Revolut has received conditional approval from the Office of the Comptroller of the Currency to form a national bank, with a launch targeted for the first half of 2027, subject to final regulatory sign-off, according to the report.

How profitable is Revolut's business right now?

By the numbers, per TechCrunch:

• $6 billion in 2025 revenue, with a 38% profit margin
• Business banking division: roughly 20% of gross profit
• £36 billion (about $48.6 billion) processed monthly through Revolut Business, including over £1 billion ($1.35 billion) in the U.S.
• £950 million (about $1.28 billion) in annualized revenue and £18 billion (about $24.3 billion) in customer deposits for the business unit

James Gibson, head of Revolut Business and a partner at the company, told TechCrunch the division is expanding its customer base from more than 800,000 businesses toward a goal of 1 million by 2027, with plans to extend business banking into Mexico, Brazil, and India. He did not give a timeline for those launches.

Could Revolut go public, and when?

Storonsky has floated a dual listing in New York and London, with a stated preference for a primary U.S. listing, TechCrunch reported. An IPO has reportedly been discussed at a valuation near $200 billion, but the outlet said any listing would come no earlier than 2028, depending on market conditions. Nearly half of Revolut Business' new U.S. customers are newly incorporated companies, the company told TechCrunch, a detail it points to as evidence of early traction ahead of the bank's planned 2027 debut.

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