Revolut Completes Share Sale at a $115 Billion Valuation: The Founder Story and the IPO Question

Revolut has completed a share sale that values the London fintech at $115 billion, according to Tech Funding News on November 4, 2026. Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford led the sale, with existing and new global investors joining. The company did not disclose how many shares changed hands, and employees were again offered the chance to sell. This is a secondary share sale, not a primary fundraise, and the report says Revolut did not state how much it raised.

The Numbers

The $115 billion valuation is 53 percent above the $75 billion set in November 2025 and more than double the $45 billion from 2024. It matches the figure Tech Funding News reported in July, so the news is that the sale has now completed. The report puts the valuation at about 50 times Revolut's 2025 pre-tax profit of $2.3 billion. In a LinkedIn post, chief executive Nik Storonsky said the company now has over 80 million customers and is aiming for 100 million.

The Founder Story

Storonsky left trading jobs at Lehman Brothers and Credit Suisse in 2013 and built Revolut from two desks in a Canary Wharf incubator. He has said the idea came from frustration with hidden currency fees while travelling. He launched the company in 2015 with Vlad Yatsenko, a former Deutsche Bank developer who was the first employee, became co-founder to help attract engineers, stepped down as chief technology officer in July, and now sits as a non-executive board member. The app began with travel cards and now covers current accounts, cards, currency exchange, stock and crypto trading, loans and business banking.

From App to Bank

Since early 2026 Revolut has launched banks in the UK, Mexico, Australia and New Zealand, and secured licences in France, Colombia and Argentina. Its UK bank launched in March after a restricted licence in July 2024. The United States is described as the next market. The report also notes that the $115 billion price matches the July figure, which was reported before a US charter approval.

The IPO Question

Storonsky told Bloomberg in April that an IPO was at least two years away, and said in October that a listing was likely to be in the US. Reports cited by Tech Funding News say the company is targeting a valuation of $150 billion to $200 billion at listing. The article notes that public investors compare Revolut with banks, which trade at lower multiples, and that the new licences are part of what gives it a premium. The open question is whether the market will pay a technology multiple for a business that increasingly looks like a bank. Fortune Business Insights, cited in the report, forecasts the neobanking market at $310 billion in 2026.

Lessons for Founders

Employee share sales are a retention tool. Letting staff sell shares at a rising price gives them liquidity without an IPO, and Storonsky said employee ownership has been central to Revolut's culture. Founders at later-stage companies can use a similar programme, but it should be planned with legal and tax advice because it affects the cap table.

A founder's early cofounder choices can be long term. Yatsenko joined as the first employee and became a co-founder to attract engineering talent, and his role has changed over time. Founders should write down how roles and equity change when a cofounder moves from operator to board member.

Secondary sales set a price without adding cash to the company. A rising secondary valuation can support hiring and partnerships, but investors in a later IPO will focus on earnings and regulatory standing, not the secondary price. Founders should read a term sheet and any liquidation preference carefully, because a high headline valuation does not guarantee the same return for every class of shareholder.

What We Could Not Confirm

We relied on Tech Funding News and could not find Revolut's own release in our review. The number of shares sold, the amount raised and the investor allocations are undisclosed. The IPO valuation range is reported through third parties, and the company has not confirmed it.

Key Takeaways

Revolut's completed share sale values it at $115 billion, up 53 percent in a year, with over 80 million customers and 2025 pre-tax profit of $2.3 billion as reported. The next test is how public markets will price a company that is becoming a bank, and Storonsky has indicated that the listing is at least two years away.

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