Revolut seeks $115 billion valuation and plans multiple secondary transactions before IPO

Odaily Planet Daily News: According to sources, London-based digital bank and financial super app Revolut is quietly seeking a round of secondary equity transactions, targeting a valuation of $115 billion. If successful, this valuation would surpass Barclays and Deutsche Bank, and approach the scale of BNP Paribas.

Founded in 2015 and led by CEO Nik Storonsky, Revolut plans to conduct multiple rounds of secondary transactions before its IPO to provide liquidity for internal shareholders while gauging the market's tolerance for its valuation. Storonsky has stated that an IPO is still at least two years away.

Based on current revenue of $600 million and profits of $2.3 billion, the $115 billion valuation would give it a price-to-earnings ratio similar to high-growth technology companies. If the transaction goes through, Storonsky's stake would be worth at least $36 billion, placing him among the world's wealthiest fintech founders.

Previously, Revolut was already Europe's most valuable private technology company at a valuation of $75 billion. A $115 billion valuation would now propel it into the ranks of top global financial institutions, setting a high bar for its future IPO and signaling investors' optimistic outlook on the company's valuation. (Bloomberg)