British fintech Revolut's valuation has jumped 53 per cent to $115 billion in a secondary share sale, as the company prepares to launch a US bank in 2027.
The sale was led by investors including Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford, and brought no new money into the company. Revolut declined to say how much stock was sold.
Founded in 2015 by Nik Storonsky and Vlad Yatsenko, Revolut has grown from a money-transfer app into a financial services platform with more than 80 million retail customers across more than 40 countries.
Revolut has established banking operations across Europe and launched banks in the UK, Mexico, Australia and New Zealand this year. It has also secured banking licences in France, Colombia and Argentina, and begun rolling out financial services in India. The company has conditional approval from the US 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 achieved profit margins of 38 per cent on revenue of $6 billion in 2025.
Revolut's business banking division, launched in 2017, accounts for about 20 per cent of the company's gross profit, James Gibson, head of Revolut Business and a partner at the company, told TechCrunch. The company told TechCrunch the division processes more than £36 billion (about $48.6 billion) in transactions each month, including over £1 billion (about $1.35 billion) in the US. The company said it generates more than £950 million (about $1.28 billion) in annualised revenue and holds more than £18 billion (roughly $24.3 billion) in customer deposits. The company said nearly half of Revolut Business' new customers in the US are newly incorporated companies.
Gibson said Revolut is looking to bring its business banking services to Mexico, Brazil and India, and aims to grow its business customer base from more than 800,000 businesses to a million by 2027.
The higher valuation comes as Revolut weighs a public listing. Storonsky has considered a dual listing in New York and London and indicated a preference for a primary listing in the US. An IPO, which could reportedly value the company at $200 billion, could come no earlier than 2028, depending on market conditions.
Analysis
Why This Matters
- The 53 per cent valuation jump sets a new benchmark for one of Europe's most valuable fintechs as it prepares to enter the US banking market.
- Revolut Business has become a meaningful profit driver, and its planned expansion into Mexico, Brazil and India would extend that growth beyond the company's consumer base.
- Revolut is weighing a public listing that could reportedly value it at $200 billion, making its choice of exchange and timing a significant event for the fintech sector.
Background
Revolut was founded in 2015 as a money-transfer app and has expanded into a broad financial services platform spanning consumer and business banking across more than 40 countries. It has spent recent years securing banking licences and launching banks in new markets, establishing itself as one of Europe's largest fintech companies. The secondary share sale continues a run of private transactions that have steadily raised its valuation ahead of a possible listing.
Key Perspectives
- Nik Storonsky, co-founder: has considered a dual listing in New York and London and indicated a preference for a primary listing in the US.
- James Gibson, head of Revolut Business: says the division accounts for about 20 per cent of Revolut's gross profit, and the company aims to grow its business customer base from more than 800,000 companies to a million by 2027.
What to Watch
- Whether the US Office of the Comptroller of the Currency grants final approval for Revolut's national bank, planned to launch in the first half of 2027.
- The rollout of Revolut Business into Mexico, Brazil and India, which Gibson did not put on a timeline.
- Whether Revolut moves towards an IPO no earlier than 2028 and whether it chooses a primary US listing over London.
Checked
12 claims in this story checked against 1 source: 11 supported.
Show each claim
- SupportedRevolut’s valuation rose 53% to $115 billion in a secondary share sale.TechCrunch: “Revolut’s investors have completed a secondary share sale that values the British fintech at $115 billion, 53% more than the price tag it had gained in another share sale a year ago”
- SupportedRevolut plans to launch a US bank in 2027, subject to final regulatory approval.TechCrunch: “it plans to launch in the first half of 2027, subject to final regulatory approval.”
- SupportedA potential IPO could reportedly value Revolut at $200 billion.TechCrunch: “an IPO, which could reportedly value Revolut at $200 billion”
- SupportedThe secondary share sale was led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford.TechCrunch: “Investors including Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates, and Baillie Gifford led the share sale”
- SupportedThe sale brought no new money into Revolut.TechCrunch: “the share sale, which brought no new money into Revolut.”
- SupportedRevolut declined to say how much stock was sold.TechCrunch: “The company declined to say how much stock was sold.”
- SupportedRevolut has more than 80 million retail customers across more than 40 countries.TechCrunch: “more than 80 million retail customers across over 40 countries.”
- SupportedRevolut received conditional approval from the US Office of the Comptroller of the Currency to establish a national bank.TechCrunch: “has received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national bank”
- SupportedRevolut achieved profit margins of 38% on revenue of $6 billion in 2025.TechCrunch: “achieving profit margins of 38% on revenue of $6 billion in 2025.”
- SupportedRevolut Business accounts for about 20% of Revolut’s gross profit, according to James Gibson, head of Revolut Business and a company partner.TechCrunch: “The division accounts for about 20% of Revolut’s gross profit, James Gibson, head of Revolut Business and a partner at the company, told TechCrunch in a recent interview.”
- SupportedRevolut Business processes more than £36 billion in transactions each month.TechCrunch: “Revolut Business processes more than £36 billion (about $48.6 billion) in transactions each month, including over £1 billion (around $1.35 billion) in the U.S. alone.”
- Partly supportedThe IPO could come no earlier than 2028, depending on market conditions.TechCrunch: “an IPO, which could reportedly value Revolut at $200 billion , would come no earlier than 2028, depending on market conditions.”
