Revolut Ltd. said a secondary share sale valued the London-based financial-technology company at $115 billion, cementing its place as Europe’s most valuable private tech firm as it prepares to open a bank in the U.S.
The sale, completed Wednesday, was led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price and Baillie Gifford. It allowed employees and early backers to sell existing shares and brought no new capital into the company. Revolut didn’t disclose how much stock changed hands; shares reportedly traded at about $2,017 each.
A steep climb
The valuation is 53% above the $75 billion set in a similar transaction a year ago and more than double the $45 billion mark from 2024. Revolut, founded in 2015 by Nik Storonsky and Vlad Yatsenko, says it has more than 80 million retail customers in more than 40 countries. It reported revenue of $6 billion in 2025 with a profit margin of 38%.
This year the company launched banks in the U.K., Mexico, Australia and New Zealand and won licenses in France, Colombia and Argentina. It has conditional approval from the Office of the Comptroller of the Currency for a U.S. national bank, which it aims to open in the first half of 2027, subject to final sign-off. Its business-banking arm, which accounts for about a fifth of gross profit, processes more than £36 billion of transactions a month.
Listing still years away
The repeated secondary sales give staff a way to cash out while Revolut stays private. Mr. Storonsky has considered listing in New York, possibly alongside London, and has signaled a preference for a primary U.S. listing. An initial public offering isn’t expected before 2028 and will depend on market conditions.
