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British digital bank Revolut is boosting its valuation to $115 billion, up from $75 billion late last year, according to people familiar with the matter.
The details
The bank recently launched a secondary share sale at a price of $2,017 a share, according to an internal message sent to employees Wednesday by Revolut CEO Nik Storonsky and viewed by The Wall Street Journal.
The transaction increases Revolut’s valuation by around 50% since its last secondary share sale in late 2025.
It also makes Revolut the latest private company to catapult above $100 billion in value even as it eschews the public markets. Others include OpenAI and Anthropic, both of which are exploring stock-market debuts in the coming months.
The context
Revolut has become the most valuable startup in Europe since its founding in 2015. Its new valuation will now surpass that of the U.K.’s largest bank, Barclays, which has a market value of around £70 billion, or roughly $95 billion.
Revolut secured a full U.K. banking license earlier this year after a yearslong wait. Now the digital bank can offer protected deposit accounts and other new services including loans and overdrafts at scale. Revolut had previously been operating under a restricted license.
The London-based company is also looking to expand in the U.S., recently applying for a national bank charter. If it wins approval, it could take deposits and offer direct lending to more American customers.
Earlier this year the company reported record annual profits and a jump in its customer numbers. At the time, Revolut said it remained focused on its goal of increasing its customer base to 100 million by mid-2027 from more than 70 million currently.
Write to Corrie Driebusch at [email protected]