U.K.-based fintech powerhouse Revolut is in advanced discussions to raise $1 billion in a new funding round that would value the company at a staggering $65 billion, according to a report by the Financial Times. The round, still under negotiation, would mark one of the largest private financings in European tech history if finalized.
The proposed raise reflects continued investor confidence in Revolut’s aggressive global growth strategy and its evolving ambitions to become a full-scale digital banking and financial services platform. The Financial Times, citing people familiar with the matter, reported that the funds would be used to fuel Revolut’s international expansion and strengthen its banking infrastructure across key markets.
From Challenger Bank to Global Financial Platform
Founded in 2015, Revolut has rapidly evolved from a mobile money transfer and exchange app into one of the most valuable private technology firms in Europe. The company last garnered a valuation of $45 billion during a secondary share sale in August 2024. Since then, the fintech has not only achieved its first $1 billion in annual profit but also expanded its customer base to 52.5 million users, adding nearly 15 million new customers in 2024 alone.
CEO Nik Storonsky has consistently credited the company’s growth to internal innovation and execution. In a prior statement, Storonsky remarked, “It’s our employees’ hard work, innovation, and dedication that have driven us to become the most valuable private technology company in Europe.”
Banking Ambitions and IPO Watch
Revolut’s latest fundraising efforts come just months after it was granted a restricted U.K. banking license in July 2024—a long-anticipated regulatory milestone that allows the company to begin scaling its domestic deposit and lending operations.
With an existing European banking license and operations in dozens of countries, Revolut is now focused on building a global financial super app, offering everything from retail banking and credit to investment products and subscription-based financial services.
In an interview with The Wall Street Journal, Francesca Carlesi, CEO of Revolut U.K., said the company is “preparing properly” for a potential initial public offering, though no timeline has been confirmed. “We can prepare for this properly and pick the right moment,” Carlesi said.
Doubling Down on Growth
The expected $1 billion raise signals Revolut’s intent to continue scaling its global footprint ahead of a likely IPO. According to the FT, the company’s internal goal is to reach 100 million daily users across 100 countries, a target that would position it among the largest consumer fintech platforms globally.
If successful, this funding round could solidify Revolut’s standing not just as Europe’s fintech leader, but as a dominant force in global finance.
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Reference
Financial Times – https://www.ft.com/content/f4de3f2e-2476-4048-a035-f1f78a59922e
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