Revolut Valued at 45 Billion Dollars, Announces Secondary Share Sale

• The secondary stock sale provides employees with the opportunity to liquidate their employee shares, allowing them to realize the benefits of their contribution to the development of Revolut.
• The secondary sale of shares values Revolut at $45 billion, solidifying the company’s position as the most valuable private tech company in Europe.

Revolut has signed agreements with a group of leading technology investors to enable employees to sell their shares, through a secondary sale, with the company valued at $45 billion.

The secondary sale of shares allows current employees to realize their investment of time, attention, and work into the development of Revolut. At the same time, Revolut secures additional financial support from a group of existing and new investors. The leaders in the round of financing were funds from Coatue, D1 Capital Partners, and the existing investor, Tiger Global.

The new valuation of Revolut at $45 billion reflects the good financial results the company has achieved in recent quarters, as well as progress in achieving strategic goals. In 2023, Revolut recorded revenues of $2.2 billion (a year-on-year increase of 95%) and a record pre-tax profit of $545 million. In the first half of 2024, the company continued its strong performance, recording an improvement in profitability and an annual income growth of over 80%. Revolut is currently the most frequently downloaded financial app in 19 markets and is well on track to reach the 50 million customer mark before the end of 2024.

The financing round is supported by the strong growth dynamics of the company over the year. Revolut obtained a banking license in Mexico, and then in July received a banking license in the UK (with restrictions), which constitutes a crucial step for further expansion both in the UK and worldwide. Additionally, Revolut has announced the introduction of a series of new products, including the RevPoints loyalty program, digital eSIM cards, and launched the Revolut X cryptocurrency exchange.

“I am proud that we have been able to provide our employees with the opportunity to realize the benefits of our shared success. It is through innovation, determination, and hard work from the whole team that we have become the most valuable private technology company in Europe. We are also excited about working with new investors who share our vision and want to jointly change the landscape of banking services worldwide” – said Nik Storoński, CEO and co-founder of Revolut.

“We share Revolut’s mission, which is working towards the democratization of access to financial services worldwide. Revolut has proven that it can scale its business in dozens of markets. The company’s results are a testament to the team’s commitment to quickly creating and bringing financial innovations to market. Under Nik’s and the management team’s guidance, Revolut handles the complexity of the financial services market excellently and delivers an impressive portfolio of products that meet customers’ needs. We eagerly look forward to a fruitful collaboration that will contribute to the transformation of the global banking sector” – said Philippe Laffont, founder and portfolio manager at Coatue.

Morgan Stanley acted as the exclusive intermediary in the transaction.

(1) Based on internal managerial calculations (unaudited)

(2) Based on app downloads from App Store/Google Play Store (July 2024)

(3) Different availability, depending on the market