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Revolut is in talks to raise around $1 billion in a mix of new and existing shares, targeting a $65 billion valuation as it gears up for a major push into the U.S. market. The Financial Times first reported the fundraising talks on Wednesday.
Greenoaks Capital is expected to lead the funding round, while Morgan Stanley is managing the raise and accompanying secondary share sale. The deal would mark a sharp jump from Revolut’s last reported valuation of $45 billion, set during a heavily oversubscribed secondary sale in 2023.
The London-based fintech now serves 60 million customers—more than HSBC—and has seen revenue climb 72% year-over-year to $4 billion. Investor documents seen by prospective backers project revenues of $5.9 billion in 2025 and $9.3 billion in 2026.
CEO Nikolay Storonsky previously hinted at a renewed bid for a U.S. banking license, and the company is said to be targeting 100 million daily active users across 100 countries. According to one source, Revolut is on track to reach that milestone by Q3 2026 and is aiming for a valuation of at least $100 billion before going public.
Existing shareholders have shown interest in selling stakes at valuations above $60 billion, according to people familiar, reflecting strong secondary market appetite.
The digital banking firm reported a £1.1 billion pretax profit for 2023 in April and expects to begin operating as a licensed UK bank next year.
Revolut’s wealth revenue also soared 298% year-over-year to $647 million, supported by the launch of its standalone crypto exchange, Revolut X, in May and its expansion across 30 European markets.
In June, Revolut introduced its first branded ATMs in Spain, offering a fresh take on a long-standing piece of banking infrastructure.
Starting with locations in Madrid and Barcelona, the new machines provide Revolut customers with fee-free withdrawals, competitive exchange rates, and the option to collect new cards.
The first 50 ATMs will be rolled out across high-traffic areas, with plans to add up to 150 more in other major cities like Valencia and Málaga. Revolut customers can easily find these ATMs through the Revolut app, which shows details like locations, hours, and directions.
