A $40 billion valuation would rank Revolut alongside Europe's biggest banks

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VALUATION

British fintech Revolut is seeking a valuation of more than $40 billion through a planned share sale, a valuation that would make it worth more than Germany's Deutsche Bank  Britain's.

If confirmed, the valuation would confirm that the company founded by Nikolay Storonsky in 2015 is Europe's most valuable start-up and set it apart from the rest of the fintech industry where valuations have been squeezed.

Revolut's earns revenue from payments, subscriptions and from customers trading stocks and cryptocurrencies.

BIGGER THAN BARCLAYS?

Revolut would leapfrog Barclays and NatWest and move near to Lloyds.

The London-based fintech would be worth about four times the value of British money transfer firm Wise.

Such a valuation would be a more than 20% jump on its 2021 valuation of $33 billion, which Revolut achieved when raising cash from investors including Softbank's Vision Fund and Tiger Global Management.

They were signed off after months of delays. A spokesperson for Revolut said at the time that the bank's overall revenue figure "was not in question" and BDO's concerns were "remedied in 2021".

CUSTOMERS

Revolut, which employs about 10,000 people, has 40 million customers globally, including 9 million in the UK.

That compares with 27 million at Lloyds and 19 million at NatWest, although revenue earned per customer is generally much higher at banks.

More info Valters Gencs, info@gencs.eu, WhatsApp/telegram plus 371-29265441