Revolution continues its meteoric growth. The British Neobank Revolution has seen its valuation increase to $ 75 billion during a secondary sale of shares and gained a little more among European bank giants.
It is a jump in relation to the valuation of 45 billion announced by Revolution in August 2024, during an anterior secondary sale. The Fintech had summoned Coatue, D1 Capital Partners and Tiger Global among institutional investors who bought shares and the Financial Times had mentioned an operation of up to half a billion dollars.
The company confirmed on Monday, September 1, launched a process that allowed its employees to sell shares during a “secondary sale.” This “is currently underway and we will not make other comments before its completion,” according to a statement sent Monday to AFP.
But a source close to the company told AFP that the price of the shares was sold in this context the securities of scrambled at $ 75 billion, confirming information from Bloomberg.
In front of Barclays
As a comparison among its largest compatriots: the HSBC champion has a market capitalization that is close to $ 225 billion, while Barclays is a bit below 70 billion.
The Financial Times had indicated last month that Revolution is also currently in conversations with investors to make a new fund collection.
Revolution has more to double its net gain last year, at 790 million pounds (914 million euros), thanks to more and more numerous clients: it has more than 60 million, including more than 5 million in France, its second market after the United Kingdom.
Parisian anchor
The group had announced in May an investment of one billion euros in France, as well as the installation in Paris of its headquarters for Western Europe, from where it will supervise among others Spain, Italy, Germany and Ireland.
Revolution, launched in 2015, points to 100 million customers in 100 countries, but its meteoric growth has also won criticism in recent years for its ability to comply with financial regulations, to combat fraud or money laundering in particular.
Last, the Italian competition gendarme announced in early July the opening of a survey on “dishonest commercial practices” of online banking, remarkably “cheated messages” in its investment offers.
Revolution said he took this research “very seriously” and remain “completely committed to respecting the strictest standards in terms of customer compliance and protection in Italy and worldwide.”
Positioned in its beginnings on exchange and payments, Revolution gradually expands its offer to property credits in certain countries and also plans to offer regulated savings products, such as brochure A.
First for an online bank: Revolution, had also announced in June the launch of automatic ticket distributors in Spain, in which it will also be possible to open an account or obtain a bank card.
Source: BFM TV
