Revolut Completes Secondary Sale at a $115 Billion Valuation
Revolut has completed a secondary share sale that values the company at $115 billion, the company announced on November 4, 2026. Each share was valued at $2,017 in the transaction, which was led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford. Revolut's announcement carries the headline "Revolut completes fundraising process establishing $115 billion valuation."
A secondary sale moves existing stock between owners and brings no new capital into the company. Existing shareholders sold their shares to the incoming investors, so the company's cash position did not change. The $115 billion figure is 53% higher than the $75 billion valuation set in the company's share sale a year earlier. The process moved in stages. On June 5, 2026, Bloomberg reported that Revolut was weighing a secondary sale at a $115 billion valuation, and by July 22, 2026, the sale was underway.
Revolut was founded in 2015 by Nik Storonsky and Vlad Yatsenko. According to TechCrunch, the company has more than 80 million retail customers, meaning individual account holders rather than businesses, across more than 40 countries. Revolut reported a 38% profit margin on roughly $6 billion in revenue for 2025. Its business banking division, launched in 2017, accounts for about 20% of gross profit.
The company's banking footprint now spans several jurisdictions. Revolut has launched banks in the U.K., Mexico, Australia and New Zealand, and has secured banking licenses in France, Colombia and Argentina.
The U.S. is the next step. Revolut has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC), the federal regulator that charters national banks, to establish a national bank. The company plans to launch that bank in the first half of 2027, subject to final regulatory approval. The timing is a plan, not a completed action, and it depends on the remaining approvals.
In my view, the more useful number here is the margin rather than the valuation. A 38% profit margin at this scale, in a retail-facing business, is unusual in consumer finance, and it is the figure that will matter most to any investor weighing whether a $115 billion price reflects the operating base beneath it. The valuation itself is set by a trade between existing holders and new buyers. It tells us what those buyers were willing to pay for a share, not what the company has earned in new capital.
The broader context here is that a U.S. national bank would test whether a model built across many licensed markets can be carried into one of the most demanding regulatory environments in the sector. For the more than 80 million customers already using the app, the practical question is what the expanded licenses change in the services they receive. For the industry, the outcome will show how far a digital-first bank can scale under a full national charter. The launch date is still a target, and the regulatory steps that remain will determine when that answer arrives.
