Revolut, a British financial technology company, has been appraised at $45 billion following a secondary share transaction.

In an illustration taken on March 29, 2024, in Krakow, Poland, Revolut cards are displayed. The British fintech company Revolut announced on Friday that it has reached a valuation of $45 billion following a secondary share sale involving both current and new investors. According to Revolut, this valuation is a testament to the company’s robust financial performance in recent quarters and its successful execution of strategic goals. The funding round was spearheaded by Coatue, D1 Capital Partners, and existing investor Tiger Global, although the total value of the shares sold was not disclosed. This new valuation marks a significant increase from the $33 billion valuation achieved in July 2021.

Revolut CEO Nik Storonsky expressed his pleasure in allowing employees to benefit from the company’s success and welcomed new investors who align with Revolut’s vision of transforming the banking industry. This valuation milestone comes shortly after Revolut received a restricted banking license in the U.K., ending a three-year wait since their initial application in 2021. The delay was due to issues such as inconsistencies in Revolut’s share structure with the U.K.’s Prudential Regulation Authority’s rules, which have now been resolved. With the new license, Revolut can accept customer deposits and offer products like loans and credit cards. The company plans to develop its banking infrastructure in the U.K. before officially launching these services.