Revolut has overtaken Barclays in valuation after securing a $75 billion price tag in a major secondary share sale backed by Nvidia, cementing its position as Europe’s most valuable private tech company and the standout success story of Britain’s fintech sector.
The deal — largely involving staff selling portions of their holdings — marks a dramatic jump from Revolut’s $45 billion valuation last year. It now exceeds the market capitalisation of Barclays (£55.7bn / $73bn), as well as other UK banking giants including Lloyds and NatWest.
The transaction attracted heavyweight investors including Coatue, Greenoaks, Dragoneer and Fidelity, while Nvidia’s venture arm has taken an equity stake — a symbolic endorsement from one of the world’s most influential technology firms.
The deal is Revolut’s fifth employee share sale and allows thousands of its more than 10,000 staff to cash in on the company’s growth. Employees were permitted to sell up to 20% of their holdings, with shares priced at $1,381.06 each. No new capital was raised, and Revolut has not disclosed the value of shares sold.
Founded ten years ago as a low-cost currency card, Revolut has grown into a sprawling financial platform offering payments, crypto trading, share dealing, business accounts and lending across Europe, the US and Australia.
Led by co-founder and CEO Nik Storonsky, Revolut now claims 65 million customers. The company generated £3.1bn in revenue and £1.1bn in pre-tax profit last year — a milestone result that has fuelled investor demand.
Storonsky said the latest valuation “reflects the remarkable progress we have made in the last 12 months towards our vision of building the first truly global bank”.
Despite its meteoric rise, Revolut remains stuck in the UK regulatory “mobilisation phase” and cannot yet launch full UK banking services. Its application – submitted three years ago – has faced delays over historic accounting issues and the complexity of its global structure.
Regulators granted a provisional licence 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 granted.
Most challenger banks spend around a year in mobilisation; Revolut’s longer wait reflects regulators’ scrutiny of its internal controls, governance and broader operational footprint.
While UK approval remains pending, Revolut is accelerating international banking launches. It received a banking licence in Mexico last year, and last month secured regulatory approval to establish a bank in Colombia. In Europe, Revolut lends under a Lithuanian licence obtained in 2018; in the US and Australia it partners with licensed banks.
Achieving UK bank status remains strategically important – enabling Revolut to compete head-on with incumbents such as Barclays and NatWest while also unlocking smoother global expansion.
For now, its new valuation, high-profile investors and continued profitability underline Revolut’s status as the most significant financial technology success story to emerge from Europe.
Read more:
Revolut surpasses Barclays in value after Nvidia-backed deal puts fintech at $75bn
