Revolut

Revolut is a financial services app that began with multi currency cards and foreign exchange and has expanded into current accounts, stock and crypto trading, savings, lending and business accounts. It was founded on 1 July 2015 in London by Nik Storonsky and Vlad Yatsenko. Revolut obtained a European banking licence through Lithuania in December 2018, a UK banking licence in mobilisation in July 2024 and a full UK licence in March 2026, and in 2026 added banking operations in Mexico, Australia and France. It reported more than 80 million customers across about 40 countries by September 2026.

Early backers included Balderton Capital and Index Ventures. In April 2018 DST Global led a $250 million Series C at a $1.7 billion post money valuation, with Index Ventures and Ribbit Capital participating, bringing total funding to about $340 million. In February 2020 TCV led a $500 million Series D at a $5.5 billion valuation, and TSG Consumer Partners added $80 million in July 2020, taking the round to $580 million at the same price. In July 2021 SoftBank Vision Fund 2 and Tiger Global co led an $800 million Series E at a $33 billion valuation. A secondary share sale in 2024 valued the company at $45 billion. In November 2025 Revolut announced a raise at a $75 billion valuation led by Coatue, Greenoaks, Dragoneer and Fidelity, with Nvidia's NVentures, Andreessen Horowitz and Franklin Templeton participating. TechCrunch put total venture funding at $2.89 billion.

Revolut has been profitable for several years. It reported 2024 revenue of about $4 billion, up 72 percent, and net profit of $1 billion, with 52.5 million customers at year end. For 2025 it reported revenue of £4.52 billion and net income of £1.3 billion. In July 2026 Reuters reported a secondary share sale at $2,017 per share implying a $115 billion valuation, and the chief executive said in April 2026 that an IPO, preferably in the United States, was about two years away, with a targeted valuation of $150 billion to $200 billion.

Revolut is a case study in compounding private marks. Investors in the 2018 round entered at $1.7 billion; the 2025 raise priced the company about 44 times higher, and the 2026 secondary higher still, all without a public listing. The 2024 and 2026 share sales gave holders a route to liquidity without an IPO, while crossover funds that bought in at $33 billion in 2021 waited through a flat period before the $45 billion and $75 billion marks.