Revolut recently turned down investors pushing for a secondary shares sale that would have seen the company valued at $65bn, according to reports.
Over the past decade, Revolut has steadily established itself as the UK’s most valuable fintech. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut began life as a financial travel app but has since moved into areas like business banking and travel, with plans to expand into points-based credit cards and mobile phone contracts.
Founded by Nikolay Storonsky and Vlad Yatsenko in 2015 as a financial travel app, Revolut has steadily established itself as the UK’s most valuable fintech, expanding into areas like business banking, travel insurance, savings and stock trading.
In February, Sifted reported Revolut’s investors were pushing for a secondary shares sale that would have seen the company valued at $60bn, already a significant jump on the $45bn price tag it earned doing the same thing in late 2024.
Now Axios reports Revolut turned down the opportunity for another share sale, which would have seen the company’s valuation jump to a hefty $65bn, around 45% higher than before.
For context, that would give Revolut a bigger market cap than either Elon Musk’s xAI ($50bn), or generative AI industry leader Anthropic ($60bn).
According to Companies House filings, Storonsky himself acquired more Revolut shares in May, giving him a 25% stake in the business. He was reportedly among those selling shares in the company’s last secondary sale last year.
The company has shown no sign of slowing down in recent months, with plans to take on industry giants like American Express with its own points-based credit card and a pivot into telecoms with Revolut mobile phone contracts.
Sifted approached Revolut for comment.
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