UK-based fintech powerhouse Revolut is making waves once again as institutional giant Schroders boosts its stake in the company, pushing Revolut’s implied valuation to $48 billion. This latest vote of confidence cements Revolut’s status among the world’s most valuable digital banks and fuels speculation that a long-awaited IPO may be on the horizon.
While Schroders’ increased investment is a key signal of market trust, the new valuation also reflects broader market reassessments of Revolut’s financial strength, expanding product suite, and global potential. The digital bank was previously valued at $45 billion in a secondary share sale and is reportedly exploring another secondary transaction that could push its valuation to as high as $60 billion.
Schroders’ deeper involvement in Revolut is more than a capital injection—it’s a strong endorsement of the fintech’s long-term vision. The asset manager’s focus on specialist, high-growth financial technology aligns with Revolut’s mission to redefine global banking. It’s the kind of backing that signals maturity, scalability, and readiness for the next phase: potentially going public.
This latest valuation milestone marks a notable rise from Revolut’s $33 billion Series E round in 2021, led by SoftBank Vision Fund 2 and Tiger Global. While overall fintech valuations have compressed since then, Revolut’s ability to scale profitably has allowed it to outpace industry averages.
By comparison, most public fintech companies currently trade at around 8.8x revenue, while private firms average about 13.7x. Revolut’s valuation—based on its $2.2 billion revenue in 2023—puts it at 21.8x, a significant drop from its 108x multiple in 2021 but still far above the market norm. That suggests continued investor appetite for Revolut’s business model and growth potential.
With this valuation, Revolut now shares the top spot with Brazil’s Nubank (valued at $45 billion). Yet while Nubank serves 100 million customers, Revolut’s 45 million users generate higher per-customer value—indicating the fintech’s efficiency and pricing power. Rivals like Monzo and N26 trail far behind in both scale and valuation, leaving Revolut in a commanding position among global neobanks.
The fintech’s recent growth story is driven by a rare achievement in the sector: profitability. In 2024, Revolut reported record-breaking earnings, supported by a diversified revenue model that includes FX trading, crypto, subscriptions, business accounts, and premium services.
Its aggressive international strategy is also paying off. Revolut has expanded across the U.S., Asia-Pacific, and Europe, with 12 million new customers onboarded in 2023 alone. Its total user base now includes over 500,000 business accounts, showcasing momentum in both consumer and commercial banking segments.
The platform continues to roll out new features and products to deepen user engagement, increase transaction volumes, and capture share in emerging markets.
A major catalyst behind Revolut’s growing investor confidence is its near-term expectation of securing a full UK banking license. Currently operating under an e-money license, obtaining this approval will unlock access to more traditional banking products and deepen consumer trust. Regulatory approvals in other key markets have also progressed, signaling Revolut’s intent to become a global full-stack financial institution.
The company’s regulatory maturity, combined with solid compliance practices, makes it an attractive candidate for public markets.
With a $48 billion valuation and profitability now proven, speculation around Revolut’s initial public offering is growing. Analysts suggest a listing could arrive as soon as late 2025 or 2026, depending on market conditions. An IPO would provide fresh capital for expansion and elevate Revolut’s brand visibility worldwide.
The offering could also help existing shareholders realize value, especially if the company reaches its rumored $60 billion valuation target in a future secondary sale.
While Revolut’s trajectory looks strong, it still faces hurdles. Global regulatory compliance, evolving fintech rules, and cybersecurity risks are ongoing concerns. In addition, market volatility could affect investor sentiment or delay IPO timelines.
But with a growing global footprint, solid unit economics, and support from high-profile investors like Schroders, Revolut is on track to shape the future of digital banking.
As it inches toward becoming the dominant AI-driven, cross-border financial platform for both individuals and businesses, Revolut appears well positioned to outpace even the strongest fintech competitors—and potentially set a new standard in global finance.
