Revolut has begun sounding out investors for a secondary share sale that would value the digital bank at USD 115 billion.
According to Bloomberg, the transaction would provide an exit route for early investors and employees seeking liquidity, without constituting a public offering.
A formal process could begin as early as June 2026, though terms have not been finalised. The company has not confirmed the plan, and its representative declined to comment on the matter.
Secondary sales as a valuation mechanism
Revolut has repeatedly used secondary transactions in recent years to bring in new investors and establish market pricing for its equity. Each such deal has generally corresponded with an upward revision to the company's valuation. In addition, the most recent secondary sale closed in November 2024 at a USD 75 billion valuation, with participants including Coatue Management, Andreessen Horowitz, and the venture capital arm of Nvidia.
Should the proposed transaction proceed at the USD 115 billion figure, internal company documents indicate that the chief executive would receive additional shares, lifting the estimated value of their stake to at least USD 36 billion.
The company's leadership has previously indicated that additional secondary sales are expected ahead of any initial public offering. A public listing has been discussed as a long-term objective but is not anticipated before 2028.
Regulatory milestones underpin expansion
The timing of the proposed sale follows two significant regulatory developments. Revolut received a full banking licence in the UK, a milestone that took several years to achieve and that opens the door to lending products in its home market. Earlier in 2026, the company also submitted an application for a bank charter in the US, where a regulatory decision remains pending.
These licences are material to Revolut's positioning: a UK banking licence allows the firm to hold deposits and extend credit under a regulated framework, while a US charter, if granted, would enable a broader range of financial services in one of the world's largest retail banking markets.
Revolut operates across more than 45 countries and serves tens of millions of customers globally, having expanded from a currency exchange app into a broader financial services platform offering accounts, trading, and insurance products. The proposed valuation of USD 115 billion would represent a significant increase from the USD 75 billion agreed just six months prior, reflecting investor appetite for high-growth digital banking platforms ahead of a public listing.
