In a bold move to become Europe’s most valuable startup, Revolut is targeting a staggering $40 billion valuation, according to the Financial Times. Sources privy to the fintech’s ambitious plans revealed that Revolut is collaborating with Morgan Stanley to facilitate a $500 million sale of existing shares, including those held by employees, to hit this lofty valuation.
This strategic push follows a recent investor revaluation earlier this year, which pegged Revolut’s worth at $25.7 billion—a decline from its 2021 peak of $33 billion. Achieving its $40 billion goal would elevate Revolut above the market capitalizations of prominent financial institutions like NatWest and Société Générale, and bring it on par with Lloyds Banking Group.
However, the path forward isn’t entirely smooth. Revolut is still navigating the uncertainties surrounding its UK banking licence application, which has been pending for three years. Despite this, the fintech giant remains undeterred.
In a strategic shift, Revolut recently relocated its headquarters to the bustling financial district of Canary Wharf and announced plans to expand its workforce by 40%. This move underscores the company’s commitment to growth and innovation, positioning itself at the forefront of the fintech revolution.
Revolut’s meteoric rise and ambitious valuation goals underscore its determination to dominate the financial technology landscape. As it forges ahead, the market eagerly watches to see if Revolut can indeed reach and surpass its $40 billion target, solidifying its status as a fintech titan.
For more on Revolut’s journey and future prospects, stay tuned to FinQfy
