Revolut reaches a valuation of $115 billion and receives a banking license in Australia.

      Revolut has reached a valuation of $115 billion following a secondary share sale, marking a 53 percent increase from its $75 billion valuation in November 2025. Shares in the sale were priced at $2,017, according to Bloomberg. This valuation positions Revolut as the most valuable private fintech company globally, far surpassing Stripe and outpacing most publicly listed European banks.

      Additionally, Revolut announced that it has obtained Australia's first full fintech banking licence from the Prudential Regulation Authority, allowing it to function as an authorised deposit-taking institution. This licence enables the digital bank to offer savings accounts, term deposits, and lending products to the more than one million Australian users already on its platform. The company plans to invest AUD $400 million in Australia over the next five years.

      The secondary share sale was driven by existing investors, including Coatue, Greenoaks, Dragoneer, and Fidelity, with participation from Andreessen Horowitz, Franklin Templeton, T Rowe Price, and Nvidia’s venture division, NVentures. This round allowed current shareholders and employees to sell parts of their stakes at the new valuation. CEO Nik Storonsky, who owns about a third of the company, might see his personal stake valued at over $36 billion.

      The valuation reflects a significant acceleration in the company's financial growth. In 2025, Revolut reported revenue of nearly £4.5 billion, a 46 percent increase from the previous year, with a pre-tax profit close to £2 billion, up 57 percent. For 2026, management has forecasted $9 billion in revenue and $3.5 billion in net profit.

      The concurrent achievement in valuation and regulation is linked, as Revolut received its full UK banking licence in March 2026 after lengthy delays and has applied for a US national bank charter. Currently, the company holds banking licences in the UK, the European Economic Area through Lithuania, Mexico, and Australia, with a US application still pending.

      Storonsky has indicated that the company is targeting an IPO in about two years, likely in the US, where liquidity and technology-friendly market conditions are more favorable. Sources have informed Bloomberg that the IPO target valuation is at least $150 billion, which would surpass the combined value of Barclays, Deutsche Bank, and Societe Generale. The company’s focus on business banking, identified by Storonsky as a top priority, aims to demonstrate to institutional investors that Revolut operates as a comprehensive bank rather than just a consumer payment service.

      The approval of the Australian licence is especially important, given that APRA's standards are among the strictest in the financial sector. Revolut stated that its existing Australian customers will transition from the current e-money setup to Revolut Bank Australia, allowing them access to deposit protection under the Financial Claims Scheme. The company now serves over 70 million customers in more than 100 countries and has over 500,000 retail customers in Mexico, where it commenced full banking operations in January 2026.

      With a $115 billion valuation, Revolut is nearing its IPO target, significantly higher than its initial startup valuation. The sustainability of this trajectory will depend on how swiftly it can translate its banking licences into revenue-generating offerings in newer markets, and whether the business banking initiative leads to the higher-margin growth that public market investors expect.