Revolut Pre-IPO Metrics Show Strong Growth
Fintech firm Revolut is reportedly valued at $75 billion ahead of a potential IPO, with recent figures showing strong performance. The company posted $4 billion in revenue, a 72% year-over-year increase, and $1 billion in net profit, representing a 26% margin, while serving 65 million customers.
- The latest $75 billion valuation resulted from a secondary share sale, providing liquidity for employees and deepening partnerships with key investors like Coatue, Greenoaks, Dragoneer, and Fidelity. This sale represents a significant increase from its $33 billion valuation in 2021 and $45 billion in 2024. - The company was founded in July 2015 by CEO Nikolay Storonsky, a former trader at Lehman Brothers and Credit Suisse, and CTO Vlad Yatsenko, a former software engineer at Deutsche Bank. Storonsky, who recently relocated to Dubai, renounced his Russian citizenship in 2022. - While a specific IPO date has not been set, it is anticipated in 2026, with a potential dual listing in New York and London. Leadership has reportedly expressed a preference for a U.S. listing on the Nasdaq, citing higher liquidity. - Key investors in Revolut include Index Ventures, DST Global, and Ribbit Capital, with later-stage participation from firms like Andreessen Horowitz and Fidelity. The company has raised a total of $1.7 billion over 19 funding rounds. - Revolut secured a restricted UK banking license in July 2024 after a three-year application process and holds a European banking license via Lithuania. The company is actively pursuing a U.S. bank charter and expanding into new markets including Mexico, India, and Brazil. - The company's business-focused offering, Revolut Business, generated £463 million in 2024, accounting for approximately 15% of total revenue. Competitors in the business space include Airwallex, WorldFirst, and Monzo Business. - Revenue streams are diversified across card payments, foreign exchange, subscriptions, and wealth management services like stock and crypto trading. In 2024, interest income grew by 58% to $1.0 billion, while subscription turnover increased by 74% to $541 million. - Notable individual shareholders include former senior bankers from Goldman Sachs, JPMorgan, and Morgan Stanley, such as Michael Sherwood and Matthew Westerman.
