Revolut hits $115bn valuation in employee share sale

Key Takeaways

• Revolut's secondary share sale values the company at $115 billion, up from $75 billion in November 2025
• Shares are priced at $2,017 each, exceeding earlier estimates of a ~$100 billion valuation
• CEO Nik Storonsky stands to gain an additional 10% stake if valuation targets are met

Revolut is now valued at $115 billion following a secondary share sale for employees, according to Bloomberg. The sale prices each share at $2,017, a figure that exceeded earlier expectations of a roughly $100 billion valuation. The deal cements Revolut's position as one of the world's most valuable private fintech companies and sets the stage for a potential public listing in 2028.

A Revolut spokesperson confirmed the transaction is underway but declined to share specifics. "We can confirm that a secondary share sale process is underway. As is standard, we won't comment on the details while the process is ongoing, and we'll provide an update once it has completed," the spokesperson said.

How did Revolut's valuation grow so fast?

The $115 billion figure represents a 53% jump from November 2025, when Revolut's last secondary sale valued the company at $75 billion. That sale itself marked a significant leap from the $45 billion valuation a year earlier. In less than two years, the fintech has more than doubled its value on paper.

Several factors explain this trajectory. Revolut secured its UK banking license in July 2024 after a three-year wait, removing a major regulatory overhang. The company has expanded its product suite into credit, crypto, and wealth management while growing its customer base to over 50 million users globally. Revenue growth and improving unit economics have made the fintech story easier for secondary investors to buy.

What does this mean for CEO Nik Storonsky?

The valuation milestone puts CEO and co-founder Nik Storonsky on track to become one of the richest people in the world. According to the source, an incentive deal tied to Revolut's valuation would increase his personal stake by another 10% if certain targets are met. At $115 billion, even a few percentage points of ownership translate into billions of dollars in paper wealth.

Storonsky has been vocal about his ambition to take Revolut public at a $200 billion valuation by 2028. The current secondary sale suggests he's roughly halfway there. Whether public markets will pay that premium depends on how interest rates, fintech sentiment, and Revolut's own financials evolve over the next two years.

Why secondary sales matter for startup founders

Secondary share sales let employees and early investors cash out without the company going public. For founders building toward a large exit, they offer a way to reward long-tenured staff, reduce pressure for an IPO, and set a market-tested valuation benchmark.

But there are tradeoffs. Secondary pricing depends on limited, negotiated transactions rather than public market liquidity. A $115 billion valuation in a secondary sale does not guarantee public investors will pay the same. Discounts of 20% to 40% at IPO are common when secondaries have run ahead of fundamentals.

For other founders eyeing liquidity events, the Revolut playbook is instructive: secure regulatory wins, diversify revenue streams, and use secondary sales strategically to manage employee retention without giving up control.

The road to a $200 billion IPO

Revolut's stated target is a $200 billion listing in 2028. That would require another 74% increase in valuation from today's level. It's aggressive, but not impossible if the company continues compounding revenue at 40% or more annually.

The bigger question is market appetite. Public fintech valuations have compressed since 2021. Nubank, the Brazilian neobank, trades at roughly 5x forward revenue. PayPal is stuck near 2x. For Revolut to command a $200 billion valuation, it would need to demonstrate profitability, a defensible moat, and a growth story that convinces public market investors to pay a premium multiple.

The 2028 timeline also coincides with a likely new interest rate environment. If central banks have normalized rates by then, growth stocks may trade at tighter multiples than during the zero-rate era. Storonsky is betting Revolut's fundamentals will outweigh macro headwinds.

Frequently Asked Questions

What is Revolut's current valuation?

Revolut is valued at $115 billion following its July 2026 secondary share sale, with shares priced at $2,017 each.

When is Revolut planning to go public?

Revolut is targeting a potential public listing in 2028 at a $200 billion valuation, though no official IPO date has been set.

What is a secondary share sale?

A secondary share sale allows existing shareholders, such as employees and early investors, to sell their shares to new investors without the company issuing new stock or going public.

How much has Revolut's valuation grown?

Revolut's valuation has grown from $45 billion in 2024 to $75 billion in November 2025 and $115 billion in July 2026, more than doubling in under two years.

Source: Sifted