Revolut is stockpiling capital. A new valuation and US conquest are in the cards.
Revolut is in intensive talks to secure new funding that could value the company at $65 billion. The new capital will be used to support its global expansion plans, primarily in the US, reports the Financial Times.
According to the Financial Times, Revolut intends to raise around $1 billion by issuing new shares. shares and the sale of some existing shares. The American company Greenoaks investment company is being identified as a potential leader in this private round of financing, although details have not yet been finalized.
Mubadala, a fund, is also expected to be involved in the transaction. from Abu Dhabi, who invested in Revolut last year, buying shares at a valuation of $45 billion. Among the companies that may sell some of Balderton is listed as part of its stake in Revolut in the latest round, one of the earlier venture capital investors.
The money raised from this round is to be allocated to financing global plans to conquer new markets, including expansion to the lucrative American market, where the company is still in its infancy. The newspaper emphasizes that Revolut has received a British license banking in 2024, which is perceived as an expression of trust in the company and significantly increases the likelihood of obtaining approvals in other key jurisdictions, including including in the USA. Revolut, for now, operates in the United States based on cooperation with the American partner bank Lead Ban.
The Financial Times reminds, however, that the road to the license was not easy, as Revolut's auditors warned that they were unable to fully verify the results. financial statements of the group for 2021. The license is also limited in some way and Revolut is still waiting for approval that would allow it to provide selected services credit.
A billion dollars in net profit, 52.5 million customers worldwide, 4.5 million of whom are in Poland – 2024 proved to be a successful year for the bank with a fintech pedigree. Revolut plans to obtain 10 more licenses in 2025, launch services in India, and launch mortgage loans.
In April, Revolut reported more than doubling its revenue pre-tax profits to £1 billion last year. Revenue increased to 3.1 billion pounds from 1.8 billion pounds a year earlier. This increase was partly fueled by a surge in cryptocurrency trading. According to the latest data, the global number of Revolut customers has increased to 52.5 million.
In the context of a potential new valuation, another important aspect is potential reward for Revout founder Nik Storonsky, may receive a significant block of shares that will increase his stake in Revolut by "several points" interest rates" if the company's valuation reaches $150 billion. In line with the latest the company's annual report, direct and indirect shares of the founder and president companies exceeded 25 percent
MKu
bankier.pl
