Revolut valued at $75 billion in latest share sale

Company Overview - Revolut has completed a secondary share sale, achieving a valuation of $75 billion, a 66% increase from the previous year, highlighting its rapid growth as Europe's most valuable fintech company [1][2] - Founded by CEO Nikolay Storonsky and CTO Vlad Yatsenko, Revolut has amassed over 65 million customers and reported a pretax profit of £1.1 billion ($1.44 billion) last year, marking a 149% increase [3] Investment and Valuation - The recent valuation positions Revolut above many publicly listed banks, including Barclays, Societe Generale, and Deutsche Bank [2] - The company's valuation has increased significantly over the years, from $33 billion in 2021 to $45 billion in 2022, and now $75 billion [3] Employee Engagement - This marks the fifth opportunity for employees to sell shares, reflecting the company's commitment to its workforce [4] Strategic Goals - The primary goal for Revolut is to obtain a full banking license in the UK, which has been a multi-year effort [5] - Revolut aims to expand its offerings to include consumer credit, mortgages, and business loans, and is considering acquiring a U.S. bank to enhance its market presence [7] Revenue Streams and Challenges - Analysts note that while Revolut's technology and brand are appealing, a significant portion of its revenue comes from cryptocurrency trading and higher interest rates [6] - The average customer deposits at Revolut are lower than those at traditional banks, and there is an acknowledgment that too few customers use Revolut as their primary account [6]