LONDON (AFP) – British fintech company Revolut announced on Friday it had been valued at USD45 billion following a secondary share sale, which it said cemented “its position as the most valuable private technology company in Europe”.
The company, founded in 2015, has been a leader in rolling out financial services to customers via smartphones, initially focusing on allowing clients to easily exchange currencies and make transfers.
Revolut said on Friday it had “signed agreements with a group of leading technology investors to provide liquidity to employees through a secondary share sale at a USD45 billion valuation”.
Coatue, D1 Capital Partners, and existing investor Tiger Global had invested in the funding round, which Revolut said allowed current employees to “capitalise on their contribution to Revolut’s growth”.
Revolut announced at the end of July that it had received a United Kingdom (UK) banking licence “with restrictions” from UK industry regulator PRA, a key step in getting long-awaited recognition as an official bank.
Revolut has had a banking licence in Eurozone member state Lithuania since 2021.
