Revolut Reportedly Aims to Raise $1 Billion for Global Expansion

Revolut is reportedly in talks to secure $1 billion from investors in a private round that would value the company at $65 billion.

The U.K.-based FinTech company is raising the money to help finance its global expansion, the Financial Times (FT) reported Wednesday (July 9), citing unnamed sources.

The details of the round have not been finalized, according to the report.

Revolut did not immediately reply to PYMNTS’ request for comment.

The company was valued at $45 billion in a secondary share sale in August 2024, PYMNTS reported at the time.

Revolut attributed that valuation to its financial performance in the preceding quarters, which included a 95% increase in revenues in 2023 compared to the previous year, and growth in its customer base.

“We’re delighted to provide the opportunity to our employees to realize the benefits of the company’s collective success,” Revolut CEO Nik Storonsky said in an August 2024 press release.

“It’s their hard work, innovation and dedication that has driven us to become the most valuable private technology company in Europe. We’re also excited to partner with several new investors who share our vision as we continue our journey to redefine the banking landscape as we’ve known it.”

In March, Revolut U.K. CEO Francesca Carlesi told The Wall Street Journal (WSJ) that the company aims to become a global financial services app.

After gaining a restricted banking license in the U.K. in July 2024, Revolut was working to build out its banking operations there, expand globally and then launch an initial public offering (IPO). The company already had a European banking license and operates in dozens of countries.

Asked about an IPO in that WSJ report, Carlesi said that Revolut was well capitalized.

“We can prepare for this properly and pick the right moment,” she said.

In April, Revolut said it booked its first $1 billion annual profit in 2024 as it widened its menu of wealth, credit and subscription services and grew its customer base.

The company added nearly 15 million customers during the year, bringing its total customer base to 52.5 million, and Storonsky said it aimed to reach 100 million daily users across 100 countries.

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