Markets & Business
Revolut's valuation jumps 53% to $115B as it preps US bank launch
Revolut's investors completed a secondary sale valuing the British fintech at $115 billion, 53% more than a year ago, as it preps a U.S. bank for 2027.
A new secondary share sale has pushed Revolut’s valuation to $115 billion, a 53% jump from the figure investors assigned the company a year earlier, as the London-based fintech moves toward a U.S. banking launch in 2027. Baillie Gifford, T. Rowe Price Associates, Durable Capital Partners, Coatue and Glade Brook Capital Partners led the purchase of existing shares; the sale brought no fresh capital into Revolut, and the company would not say how many shares changed hands.
Nik Storonsky and Vlad Yatsenko started Revolut in 2015 as a money-transfer app; the company now counts more than 80 million retail customers in over 40 countries. This year alone it opened banking operations in the U.K., Mexico, Australia and New Zealand, picked up banking licenses in France, Colombia and Argentina, and began offering financial services in India. In the U.S., the Office of the Comptroller of the Currency has given Revolut conditional approval to set up a national bank — a launch the company is targeting for the first half of 2027, pending final regulatory sign-off.
Profitability has climbed alongside the growth: Revolut posted a 38% profit margin on $6 billion in revenue in 2025. Much of that came from a business-banking arm, launched in 2017, that now generates roughly 20% of the company’s gross profit, James Gibson, who leads Revolut Business and is a partner at the company, told TechCrunch. The division operates across Europe, the U.K., Singapore, Australia, New Zealand and the U.S., where nearly half of its new customers are newly incorporated companies. Gibson said Revolut wants to extend business banking into more markets, including Mexico, Brazil and India, and aims to grow its over 800,000 business customers to a million by 2027.
The new valuation also arrives as Revolut weighs going public. Storonsky has floated a dual listing in New York and London but has signaled he favors a primary listing in the U.S.; any IPO — which could reportedly value the company at $200 billion — is not expected before 2028, depending on market conditions.
Why it matters
Revolut’s push into U.S. banking and the rising profit share of its business-banking unit signal a shift from money-transfer app to full-service financial institution — one investors are already pricing toward a potential, reportedly $200 billion IPO.