Revolut confirms $75 billion valuation after investment round
Digital bank Revolut was valued at $75 billion in its latest round of share sales, which Nvidia participated in. That makes it officially the most valuable European startup.
Digital bank Revolut was valued at $75 billion in its latest round of share sales, which Nvidia participated in. That makes it officially the most valuable European startup.
The round was led by Coatue, Greenoaks, Dragoneer and Fidelity Management & Research Company, Bloomberg reported. Nvidia Corp.’s venture capital arm NVentures, Andreessen Horowitz, Franklin Templeton and accounts advised by T. Rowe Price also participated.
It was previously reported that British-Ukrainian fintech company Revolut has launched a secondary sale of its shares, valuing it at $75 billion. It has become one of the most valuable European fintech companies founded in the last decade with an exclusively digital model. Only last year, its valuation was $45 billion, and now the valuation of $75 billion has been officially confirmed.
«The level of investor interest and our new valuation reflect the strength of our business model, which delivers both rapid growth and strong profitability,» Revolut CFO Victor Stinga said in a statement.
Revolut allowed current employees to sell their shares in the transaction, marking the fifth time the company has made such an offer to its employees.
The company has pledged to invest $13 billion as it plans to increase the number of its customers from 65 million to 100 million.
Revolut declined to disclose the amount raised through the share sale, but it was previously reported that the company and its investors were in talks to raise about $3 billion in primary and secondary financing in this round.
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