Revolut has become Europe’s most valuable privately held company after a secondary share sale put a $115bn (£89bn) price tag on the UK-based fintech, according to a report in the Wall Street Journal.
The deal, which involves existing employees selling part of their stakes rather than the issue of new shares, implies a valuation that eclipses many established high-street banks and global financial groups.
The share sale comes on the back of what Revolut has described as a standout 2025, with the company generating a pre-tax profit of $2.3bn and revenue of $6bn, while growing its customer base to more than 75 million worldwide.
The figures underline the scale and speed of the company’s expansion from a money-transfer app into a multi-product financial platform with a heavy focus on digital assets.
Record valuation and rapid growth
The $115bn valuation puts Revolut at the top of Europe’s private-company league table, well ahead of other fintech “unicorns” and many listed banks.
The transaction is structured as a secondary share sale, allowing staff and early backers to cash in some of their holdings. Such deals are often used by fast‐growing technology firms to provide liquidity before a public listing.
Investors are betting that strong financial performance and aggressive expansion in banking and crypto services will support a possible stock market flotation in the coming years, with some expectations cited in the report pointing to potential initial public offering (IPO) valuations of up to $200bn.
Profits, revenue and users surge
Revolut’s 2025 results mark a turning point for the company, which for years prioritised growth and product development over profitability.
For the year, the firm reported:
– Pre-tax profit of $2.3bn
– Revenue of $6bn
– More than 75 million customers globally
The user base now spans Europe, the UK, the US and several other markets, supported by a broad set of services including current accounts, cards, savings, investments and crypto trading.
The scale of profitability sets Revolut apart from many high-growth fintech rivals that have struggled to move into the black as interest rates, funding conditions and regulatory costs have shifted in recent years.
Crypto at the core of Revolut’s offer
A key driver of Revolut’s growth has been its heavy exposure to digital assets.
Through its main app, users can:
– Trade more than 200 crypto tokens
– Transfer assets to external wallets
– Stake their holdings to earn yields
In addition, Revolut operates a standalone crypto exchange, Revolut X, aimed at more active traders and sophisticated users.
This crypto infrastructure has enabled the firm to tap into waves of retail interest in digital assets, even as the broader market has experienced sharp volatility and regulatory scrutiny.
Banking ambitions in UK and US
Revolut has also pushed deeper into traditional banking.
The company recently secured a full UK banking licence, a milestone that allows it to expand lending, deposits and other regulated services in one of the world’s most competitive financial markets.
At the same time, it is pursuing a US national bank charter, a move that would put it in more direct competition with American retail and digital banks.
Winning full banking licences in major jurisdictions is seen as central to Revolut’s long‐term plan to become a global financial “super app”, combining payments, current accounts, investments and crypto under a single brand.
Competitive backdrop and market positioning
The surge in Revolut’s valuation comes as digital finance and crypto markets continue to evolve.
Since June, market participants have repositioned their holdings across exchanges and platforms. While some providers have seen outflows, Binance, the world’s largest crypto exchange, has broadly maintained its dominance, holding around 55% of tracked user funds and about 24% of spot volumes, and attracting net inflows in early July even as the tracked market overall recorded outflows.
Revolut’s combination of a full‐service app, dedicated crypto exchange and newly secured banking permissions suggests it is seeking to straddle the traditional banking world and the fast‐moving digital-asset sector, as it prepares for what many in the market expect will eventually be one of Europe’s largest technology IPOs.
