Digital bank Revolut has been valued at £57bn, just over a decade after it launched as an app that reduced the complexity and cost of using different currencies.
Following its latest share offer, the company’s value jumped from £34bn.
“The level of investor interest and our new valuation reflect the strength of our business model, which is delivering both rapid growth and strong profitability,” Victor Stinga, the company’s chief financial officer, said in a statement.
Chris Skinner, fintech industry expert and CEO at The Finanser, said Revolut is Britain’s brightest leading financial technology (fintech) company.
“Its success is based on geographical and product expansion,” he said. “Its ambition is to be the world’s greatest financial super app, and to offer a global platform for financial exchange. It is no wonder that as they execute this strategy, they have achieved this valuation.”
Revolut launched in 2015 and gained a full UK banking licence last year. It has 65 million customers in 48 countries and offers bank accounts, credit cards, loans and cryptocurrency trading.
In its most recent financial results, it reported revenue of £3.1bn and a £790m profit. The company has set a target to have 100 million global retail customers by mid-2027.
Skinner said there are question marks over the company’s future in the UK. “The only question is whether they would stay in Britain, because the attitude of the regulator has been very obstructive to their desires and objectives. Equally, if they list in America, rather than in Britain, that would be a major blow to UK government.”
Eleven of the UK’s most profitable fintechs, which include Revolut, reported combined profits, before tax, of $3.3bn last year, employ over 26,000 people and paid taxes worth $848m to the UK exchequer last year. Allica Bank, Atom, Funding Circle, Iwoca, Monzo, OakNorth, Starling, Tandem, Wise and Zopa are the other 10.
According to figures from Innovate Finance, for the first six months of 2025, the UK has lost second spot in global fintech investment to the United Arab Emirates (UAE).
This comes at a time of global fintech growth. Boston Consulting Group (BCG) recently said the global fintech sector saw revenues increase three times that of the finance sector as a whole in 2024, as it enters a new “era of maturity”.
It said fintech revenues grew by 21% last year, about a third higher than the 13% growth reported in 2023. There is also room for growth because, according to BCG, fintechs only account for 3% of global banking and insurance revenue.
Speaking at the 11th annual Innovate Finance Global Summit in London in May, UK chancellor of the exchequer Rachel Reeves promised continued government backing to the fintech sector.
She told the audience: “As chancellor, I’ve always said it’s my job to back the builders, the wealth creators and the job creators. So, my job is to back all of you in this room. After all, it’s thanks to your work that the UK is a world leader in fintech.”