Revolut Eyes $40 Billion Valuation in Share Sale Amid Banking License Pursuit
Britain's fintech leader Revolut is set to achieve a valuation exceeding $40 billion in an upcoming share sale, underscoring its resilience amid the ongoing pursuit of a UK banking licence.
The Financial Times reports that the digital finance app is preparing a $500 million offering, including employee-held shares, which would significantly surpass its 2021 fundraising valuation of $33 billion.
Founded in 2015, Revolut has revolutionized financial services in Britain without relying on physical branches, serving 40 million customers globally, with 9 million based in the UK.
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Despite challenges in the fintech funding landscape, the company anticipates robust financial performance, aiming for $2 billion in revenue for 2023—a remarkable increase of over 80% from the previous year—while maintaining a double-digit net profit margin.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
