Revolut has overtaken Barclays in valuation after securing a $75 billion price tag in a major Nvidia-backed secondary share sale, cementing its position as Europe’s most valuable private technology company and the UK fintech sector’s standout success story.
The deal, in which employees largely sell off portions of their holdings, represents a dramatic jump from Revolut’s $45 billion valuation last year. It now exceeds the market capitalization of Barclays (£55.7 billion/$73 billion) as well as other British banking giants including Lloyds and NatWest.
The deal attracted major investors including Coatue, Greenoaks, Dragoneer and Fidelity, while Nvidia’s venture arm took an equity stake – a symbolic backing from one of the world’s most influential technology companies.
The deal is Revolut’s fifth employee share sale and will allow thousands of its more than 10,000 employees to benefit from the company’s growth. Employees were permitted to sell up to 20% of their shares at a share price of $1,381.06 each. No new capital was raised and Revolut did not disclose the value of the shares sold.
Founded ten years ago as a low-cost currency card, Revolut has grown into a sprawling financial platform offering payments, crypto trading, stock trading, business accounts and loans across Europe, the US and Australia.
Led by co-founder and CEO Nik Storonsky, Revolut now has 65 million customers. The company generated sales of £3.1 billion and pre-tax profits of £1.1 billion last year – a milestone that has fueled investor demand.
Storonsky said the latest rating “reflects the remarkable progress we have made over the last 12 months toward our vision of building the first truly global bank.”
Despite its meteoric rise, Revolut remains stuck in the UK’s regulatory “mobilization phase” and is yet to launch full UK banking services. Its application, filed three years ago, faced delays due to historical accounting issues and the complexity of its global structure.
Regulators granted a provisional license in July 2024, allowing Revolut to build and test core banking systems. However, final approval from the Bank of England’s Prudential Regulation Authority has not yet been received.
Most challenger banks spend about a year mobilizing; Revolut’s extended wait reflects strict scrutiny from regulators of its internal controls, governance and broader operational footprint.
While approval is pending in the UK, Revolut is accelerating its rollout to international banks. The company received a banking license in Mexico last year and received regulatory approval to set up a bank in Colombia last month. In Europe, Revolut lends under a Lithuanian license acquired in 2018; The company works with licensed banks in the USA and Australia.
Achieving UK bank status remains strategically important as it allows Revolut to compete directly with incumbents such as Barclays and NatWest, while enabling smoother global expansion.
For now, the new valuation, high-profile investors and continued profitability underline Revolut’s status as the most significant financial technology success story to emerge from Europe.
