:max_bytes(150000):strip_icc()/GettyImages-2162878017-d762897bd1e54e60a58a6e6d915ba888.jpg "SoftBank-Backed Revolut Secures $45B Valuation Ahead of Possible IPO")
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KEY TAKEAWAYS
- Revolut has secured a $45 billion valuation in a share sale by employees, cementing the U.K. company’s position as one of the world’s most valuable fintech startups.
- The SoftBank-backed firm reportedly favors an initial public offering (IPO) on the Nasdaq.
- It achieved a $33 billion valuation as recently as in 2021 and is already the world’s second-most-valuable fintech startup after Stripe.
Revolut has secured a $45 billion valuation in a share sale by employees, cementing the U.K. company’s position as one of the world’s most valuable fintech startups.
The latest valuation comes as the company behind the banking-like app favors the Nasdaq as its venue for a potential initial public offering (IPO), according to the Financial Times.
Founded in 2015, Revolut was valued at $33 billion in 2021 and on Friday said existing investor Tiger Global and fellow hedge funds Coatue and D1 Capital Partners had invested in the employees’ sale of stock.
“This secondary share sale allows current employees to capitalise on their contribution to Revolut’s growth, while attracting a diverse mix of both new and existing investors,” Revolut said.
Revolut Trails Only Stripe Among Most Valuable Fintech Startups
Japan’s SoftBank bought into the company in 2021. That funding round three years ago helped make Revolut the world’s most valuable fintech startup after American digital payments giant Stripe, according to The Wall Street Journal.
The company got a U.K. banking license in July, which allowed it to expand and take on the country’s dominant banks by offering popular products such as mortgages. It already has a banking license in Lithuania, which gives it access to the European Union (EU), as well as Mexico.