Key Takeaways
- Revolut's planned secondary sale values the company at $115 billion, up 53% from its $75 billion mark in November 2025
- The fintech reported $6 billion in 2025 revenue and $2.3 billion in pre-tax profit, with 68.3 million customers
- CEO Nik Storonsky has ruled out an IPO before 2028, preferring secondary sales for early investor liquidity
UK digital bank Revolut is preparing a secondary share sale that would value the company at $115 billion, a 53% jump from its $75 billion valuation in November 2025. The transaction would let early investors, employees, and long-term shareholders sell existing shares to new buyers rather than issuing fresh equity.
Discussions with potential participants are underway, and a structured process could launch as early as July 2026. Terms remain fluid.
How does $115B stack up against traditional banks?
At $115 billion, Revolut would surpass several established European banks by market capitalization. Barclays and Deutsche Bank both fall below that figure. The valuation would place Revolut closer to BNP Paribas, positioning a 9-year-old fintech alongside century-old institutions.
For a company that started as a prepaid card and currency exchange app in 2015, that's a striking shift. Revolut has evolved into a full-service financial platform offering payments, foreign exchange, wealth management, and now, lending.
Context on the broader fintech funding environment driving valuations like Revolut's
What's behind the valuation bump?
Two factors explain the 53% increase: regulatory wins and financial performance.
In March 2026, Revolut secured a full UK banking license after years of waiting. That approval lets it expand into lending products, a higher-margin business than payments. The company has also applied for a national bank charter in the United States, which would open access to the world's largest consumer finance market.
The numbers back the valuation. For 2025, Revolut reported $6 billion in revenue, up 46% year-over-year. Pre-tax profit hit a record $2.3 billion, yielding a 38% margin. Customer numbers climbed to 68.3 million, with total balances surging 66% to over $67 billion.
Revenue comes from multiple lines: card payments, subscriptions, FX, and wealth management. Eleven distinct product lines each generated more than $135 million in annual revenue.
Why a secondary sale instead of an IPO?
Secondary sales have become Revolut's preferred liquidity mechanism. They let early backers cash out without the company issuing new shares or facing public market scrutiny.
CEO Nik Storonsky has ruled out an IPO before 2028. The strategy: use secondary sales to satisfy investor liquidity needs while building toward an even higher public market debut. Storonsky's stake would be worth roughly $36 billion at the $115 billion valuation.
The approach offers flexibility. There's no roadshow, no quarterly earnings pressure, and no immediate exposure to public market volatility. For a company still expanding internationally and building out its US presence, that breathing room matters.
What does this mean for the competitive landscape?
A $115 billion Revolut intensifies pressure on both traditional banks and other neobanks. Chime in the US, N26 in Europe, and Nubank in Latin America all compete for similar customer segments. But none has matched Revolut's combination of scale, profitability, and product breadth.
Traditional banks face a different problem. Revolut can iterate faster, operates with lower cost structures, and targets the same affluent, mobile-first customers that high-street banks struggle to retain. A successful US charter application would bring that competition directly to JPMorgan, Bank of America, and Wells Fargo's home turf.
Another fintech raising at high valuation as investor appetite for the sector grows
How large could the transaction be?
Details on the transaction size haven't been disclosed. Based on prior secondary sales and market interest, it could range from hundreds of millions to over a billion dollars in shares changing hands.
Success would cement Revolut's status as Europe's standout "centicorn," a private company exceeding $100 billion in value. Only a handful of global tech firms have reached that threshold without going public.
Logicity's Take
Revolut's valuation jump reflects genuine business momentum, not just market froth. A 38% pre-tax margin at $6 billion in revenue is exceptional for a digital bank. For fintech teams watching this space, the lesson is clear: regulatory moats matter. Revolut's UK license and pending US charter create barriers that pure-play payments apps can't replicate. Compare that to Chime, which still operates through partner banks, or N26, which retreated from the US market. If you're building fintech infrastructure, focus on the licensing path early. It's becoming the differentiator between scale players and feature apps.
| Metric | November 2025 | July 2026 (Planned) |
|---|---|---|
| Valuation | $75 billion | $115 billion |
| Revenue (2025) | $6 billion | $6 billion |
| Pre-tax profit (2025) | $2.3 billion | $2.3 billion |
| Customers | 68.3 million | 68.3 million |
| UK Banking License | Pending | Secured (March 2026) |
| US Bank Charter | Not applied | Application submitted |
Frequently Asked Questions
What is Revolut's current valuation in 2026?
Revolut is targeting a $115 billion valuation in its planned secondary share sale, up from $75 billion in November 2025.
When will Revolut go public with an IPO?
CEO Nik Storonsky has ruled out an IPO before 2028, preferring secondary sales for liquidity in the meantime.
How much revenue did Revolut make in 2025?
Revolut reported approximately $6 billion in revenue for 2025, up 46% year-over-year, with pre-tax profit of $2.3 billion.
Does Revolut have a UK banking license?
Yes, Revolut obtained a full UK banking license in March 2026 after years of waiting, allowing it to expand into lending products.
What is a centicorn company?
A centicorn is a private company valued at $100 billion or more. At $115 billion, Revolut would be Europe's most prominent example.
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Source: Crowdfund Insider
Huma Shazia
Senior AI & Tech Writer
Produced with AI assistance and reviewed by the Logicity editorial team. Learn more in our Editorial Policy.
