UK fintech firm Revolut's valuation skyrockets to $75 billion
Revolut, the London-based fintech, just hit a massive $75 billion valuation after its latest share sale.
Big-name investors like Coatue, Greenoaks, Dragoneer, and Fidelity led the round, with others like Andreessen Horowitz joining in.
While the exact amount raised hasn't been shared, this deal let employees cash out and marks a huge jump from its $48 billion valuation just a few months ago.
Rapid global growth and soaring revenues
Launched in 2015, Revolut has been growing fast—offering multi-currency accounts and crypto products.
The company now has an EU banking license and recently launched in India, with plans to expand into Colombia next year and eyes on Argentina and South Africa.
On the money side: Revenues shot up 72% to $4 billion last year, while its Wealth division (which includes crypto trading) saw revenue surge 298% to $647 million.