Revolut’s Latest Fundraise Sets a $115 Billion Valuation

By Amara Osei

Revolut completed its latest fundraising at a $115 billion valuation. According to the company, Glade Brook Capital Partners, Coatue, Durable Capital Partners, accounts advised by T. Rowe Price Associates and Baillie Gifford led the transaction. Existing investors and new institutional backers also participated.

Revolut attributed the valuation to rapid customer growth, improving financial performance and efforts to establish regulated banking operations in additional markets. More than 80 million retail customers use the service worldwide. Revolut reported that 2025 revenue rose 46% to $6 billion (£4.5 billion). Pre-tax profit increased 57% to $2.3 billion (£1.7 billion), and the pre-tax margin reached 38%.

Revolut said the 2025 results demonstrate the scale of its operations as it expands its product portfolio and enters new financial markets. The company linked the valuation to customer growth, improving financial performance and regulated banking expansion.

What do the financial results show?

Profit growth exceeded revenue growth by 11 percentage points on a reported basis. Revolut also reported a 38% pre-tax margin. Earnings therefore grew faster than sales, and profitability forms a central part of the fundraising case alongside customer scale.

Revenue and pre-tax profit both grew at double-digit rates in 2025. The combination of customer scale, top-line growth and reported profitability formed the operating case behind the valuation, according to Revolut. The fundraising followed those results.

What does Revolut’s platform now include?

Revolut describes itself as a global financial technology company providing digital banking, payments and investment services. It has expanded beyond its original digital payments and foreign exchange offerings. Its platform now covers banking, payments, investing and related products.

That broader platform supports the company’s stated ambition of a consistent digital banking experience across countries. Revolut’s long-term objective is to serve more than 100 million customers across more than 100 countries. Its current base of more than 80 million retail customers makes continued customer acquisition central to that plan.

Where has Revolut expanded?

Revolut reported the following regulatory and operating milestones in 2026:

• It launched banking operations in the United Kingdom, Mexico, Australia and New Zealand.
• It secured banking licenses in France, Colombia and Argentina.
• It received conditional approval for a national bank charter from the U.S. Office of the Comptroller of the Currency.

According to Revolut, these moves build on its established European banking operations across 30 European Economic Area markets. The expansion now spans operating banking services, secured local licenses and a conditional U.S. authorization. Revolut said it aims to provide a consistent experience while tailoring services to individual countries.

Its strategy involves obtaining local regulatory authorizations, establishing banking infrastructure and introducing country-specific services. The company said those initiatives require significant investment in technology, compliance, risk management and operational capabilities. Revolut’s continued expansion therefore depends on meeting regulatory, investment and execution requirements in each market before it can broaden its customer base there.

What role does employee ownership play?

Revolut emphasizes employee ownership as part of its corporate culture. The company says ownership allows employees to participate in the value created through growth. The fundraising is another milestone in that strategy as Revolut moves toward more than 100 million customers across more than 100 countries.

The transaction was led by institutional investors, while employee ownership remains part of Revolut’s culture. Value creation now hinges on whether the company turns regulatory progress into customer growth in markets with different requirements.

What must happen next?

Revolut said expansion will depend on establishing regulated operations, attracting customers and providing competitive financial services across differing regulatory regimes. The $115 billion valuation places Revolut among the world’s most highly valued privately held financial technology companies. The next test is whether it can add regulated markets and customers while funding technology, compliance, risk management and operations at scale.