Revolut has become Europe’s most valuable private technology company after a major secondary share sale pushed its valuation to $75 billion, surpassing the market capitalisation of Barclays and other leading UK banks. The deal marks one of the most significant milestones yet for the British fintech, which began a decade ago as a low-cost currency card.
The valuation leap — up from $45 billion last year — places Revolut ahead of Barclays, which sits at around $73 billion, as well as Lloyds and NatWest. The share sale was dominated by employees selling portions of their equity, allowing long-serving staff to benefit directly from the company’s rapid growth. Workers were permitted to sell up to 20% of their holdings, with shares priced at $1,381.06. Revolut did not raise new capital and has not disclosed the total value exchanged.
The transaction drew interest from major global investors including Coatue, Greenoaks, Dragoneer and Fidelity. Nvidia’s venture arm has also taken a stake, a notable endorsement from one of the world’s most influential technology companies and a signal of confidence in Revolut’s long-term trajectory.
Revolut now employs more than 10,000 people and serves 65 million customers across Europe, the US and Australia. The company reported £3.1 billion in revenue and £1.1 billion in pre-tax profit last year, a record performance that has strengthened investor appetite and reinforced its reputation as the standout success of the UK’s fintech industry.
Co-founder and CEO Nik Storonsky said the valuation reflects the “remarkable progress” made over the past year, adding that the company remains focused on its ambition to build a global bank capable of operating at scale across multiple markets.
Despite its booming valuation and international momentum, Revolut remains in the UK’s regulatory “mobilisation phase,” preventing it from offering full domestic banking services. Its application for a UK banking licence, submitted three years ago, has faced delays linked to earlier accounting concerns and the complexity of its global structure. The Bank of England granted provisional approval in July 2024, allowing Revolut to develop and test core banking systems, but final authorisation is still pending.
The extended process stands in contrast to other challenger banks, which typically spend around a year in mobilisation. Regulators have been taking a close look at Revolut’s internal controls, governance arrangements and operational footprint before deciding whether to grant full approval.
While the UK licence remains a key strategic objective, Revolut is accelerating its international banking expansion. It secured a banking licence in Mexico last year and recently received approval to set up a bank in Colombia. In Europe, it continues to operate under a Lithuanian licence granted in 2018, while in the US and Australia it partners with established banks to deliver regulated services.
The latest valuation, coupled with interest from major institutional investors, strengthens Revolut’s position as one of the most influential financial technology companies to emerge from Europe — and signals its growing challenge to long-standing UK banking giants.
