Revolut, the London-based digital banking giant, is reportedly on the brink of closing one of the largest private funding rounds in European history — a $3 billion capital raise that would value the company at an extraordinary $75 billion. The deal, said to be led by a consortium of global institutional investors, would mark a decisive moment not only for the UK’s fintech ecosystem but also for Europe’s position in the global financial technology race.
While details remain under wraps, people familiar with the talks suggest that the funding round has entered its final stages and could be announced within weeks. The magnitude of the raise — and the implied valuation — would position Revolut among the most valuable private financial services companies in the world, rivaling U.S. heavyweights like Stripe and Chime. It would also underscore investor confidence in the resilience of digital finance platforms, even as the broader technology sector has faced tightening capital markets and a recalibration of valuations over the past two years.
For Revolut, founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, the deal represents a new phase in its long-running evolution from a niche foreign exchange app to a full-service neobank spanning retail banking, wealth management, and business accounts. The company has steadily diversified its product suite, now offering stock trading, crypto brokerage, and even insurance, all accessible through its signature mobile app. With more than 40 million customers globally and a fast-growing presence in Europe, Asia, and North America, Revolut has transformed into one of the most recognisable fintech brands in the world.
A $75 billion valuation would mark a dramatic leap from its last official figure. In 2021, Revolut was valued at $33 billion following a $800 million funding round led by SoftBank and Tiger Global. That figure was already viewed as aggressive by many market analysts, given that Revolut has yet to secure a UK banking licence — a process that has dragged on for more than two years amid ongoing scrutiny from regulators. Yet, the company’s scale, profitability prospects, and expanding product mix have convinced backers that its long-term value could rival that of the traditional banking giants it seeks to disrupt.
The new fundraising, if finalised, will likely provide Revolut with significant firepower to accelerate its global expansion and strengthen its balance sheet ahead of potential market turbulence. Analysts note that the company has managed to maintain a strong financial footing despite the headwinds that have buffeted the tech sector. Revolut reported its first annual profit in 2021, followed by another year of solid results in 2022. Although the company has yet to publish its full 2023 accounts, insiders suggest the business continues to generate positive cash flow from core operations, with strong momentum in payment volumes and card spending across Europe.
Still, the new funding comes at a sensitive juncture. Revolut’s long quest for a UK banking licence remains unresolved, with regulators seeking further assurances about governance and compliance. The absence of a licence has limited the company’s ability to expand its lending operations in its home market and fully compete with incumbents like Monzo and Starling. However, Revolut has continued to operate under its Lithuanian banking licence across the European Economic Area, and it is rumoured to be exploring similar licences in other key jurisdictions.
Investors appear to be betting that any regulatory uncertainty will eventually be resolved. The size of the new deal suggests strong institutional appetite, likely driven by sovereign wealth funds, large private equity houses, and late-stage venture investors looking to secure exposure to one of the few fintechs capable of scaling globally. Sources close to the talks suggest that several major U.S. and Middle Eastern funds have been in advanced discussions to anchor the round, alongside some of Revolut’s existing shareholders.
The valuation also reflects a broader reassessment of fintech’s role in a changing financial landscape. As traditional banks grapple with sluggish growth and high compliance costs, digital players like Revolut are gaining ground by offering cheaper, faster, and more personalised financial services. The integration of payments, trading, and banking within a single ecosystem has become increasingly appealing to consumers — particularly younger demographics who expect immediacy and transparency from their financial providers.
Yet challenges remain. The competitive pressures in digital banking have intensified, with rivals such as N26, Wise, and Monzo also expanding aggressively. In the U.S., where Revolut has struggled to gain meaningful traction, incumbents and challenger banks alike are fighting for the same slice of the millennial and Gen Z market. Moreover, regulatory scrutiny on fintechs’ risk management and anti-money-laundering controls has increased globally, posing ongoing operational and reputational risks.
From a strategic standpoint, the timing of the funding round may be deliberate. The fintech industry has seen a modest rebound in valuations over the past six months as inflation moderates and capital markets stabilise. A high-profile deal at this scale could signal a renewed appetite for fintech investment and set a new benchmark for late-stage valuations. For Revolut, it may also be a prelude to a long-anticipated initial public offering — a move that CEO Storonsky has hinted at but delayed amid market volatility.
Analysts remain divided on whether the $75 billion valuation is justified. Some argue that Revolut’s user growth, global reach, and diversified revenue base justify a premium multiple relative to peers. Others caution that the figure reflects expectations for profitability and regulatory clarity that have yet to fully materialise. Either way, the company’s success has already redefined what a European fintech can achieve, challenging the long-held view that only U.S. or Asian firms could dominate at scale.
If confirmed, the funding round will stand as one of the largest private financings ever for a European technology firm — a milestone that could bolster confidence in London’s status as a fintech hub despite post-Brexit challenges. It would also provide Revolut with the capital needed to weather a more competitive market, strengthen its compliance framework, and continue investing in innovation.
For now, investors and rivals alike are watching closely. If Revolut successfully closes the deal, it will not only reaffirm its dominance in the neobank sector but also highlight the resilience and global ambition of Europe’s fintech ecosystem — one that continues to produce world-class players capable of standing shoulder-to-shoulder with Silicon Valley’s finest.
