Breaking news

Revolut Targets $40B Valuation

Fintech company Revolut is targeting a $40 billion valuation in a move that could boost its value by 20%. The London-based startup wants to sell shares to cement its status as Europe’s most valuable startup. 


  • The SoftBank-backed company wants to sell existing shares worth about $500 million, including those owned by employees, the Financial Times wrote.
  • The bank is working with Morgan Stanley on the sale.


The news comes amid challenges Revolut is trying to address. First of all, the startup is struggling to get a banking license, and it also reported some losses. The entire fintech sector has suffered defeats in the last two years. Stockholm-based Klarna, another prominent fintech, has sunk to $6.7 billion from a $46 billion fundraising in 2022. Since then, some venture capital investors have reduced their stakes in Revolut.


Revolut is still trying to get a banking license, which is key for the fintech company to increase lending and profits. However, regulators delayed their decision after Revolut was rocked by problems, including a warning from auditors that they could not fully verify the revenue figures in the 2021 accounts.

The company suffered a loss in its latest delayed report for 2022 as the boom in cryptocurrency trading that previously boosted profits waned. Meanwhile, rising costs offset the benefits of larger customer deposits and higher interest rates.


In 2021, the company was valued at $33 billion in a funding round. The stock transaction could now fetch a significantly higher valuation of $40 billion. That would surpass the market capitalization of British lender NatWest and Paris-based Société Générale.


Revolut was founded by Nikolay Storonsky and Vlad Yatsenko in 2015. Since then, it has significantly outpaced its competitors in terms of customer growth and aggressive international expansion. Revolut has around 40 million customers worldwide, with a third based in the UK. 

In 2021, it raised $800 million from investors including SoftBank’s Vision Fund 2 and Tiger Global Management.

Digital Transactions: A Green Approach To Finance In Cyprus

As Cyprus increasingly embraces digital transactions, the environmental benefits of this shift are becoming evident. A recent report highlights that digital payments significantly reduce the carbon footprint associated with traditional banking operations. By decreasing the reliance on physical branches, paper-based processes, and the transportation of cash, digital transactions are contributing to a more sustainable financial ecosystem. This transition is in line with global initiatives to combat climate change and underscores Cyprus’ commitment to promoting a cleaner, more efficient financial landscape.

Digital transactions are not only more convenient and efficient but also significantly less resource-intensive. Traditional banking often involves extensive paperwork, the use of physical infrastructure, and the transportation of money, all of which contribute to higher carbon emissions. In contrast, digital transactions streamline these processes, resulting in lower energy consumption and reduced waste.

The environmental advantages of digital transactions are complemented by their economic benefits. By lowering operational costs and enhancing transaction speed and security, digital payments provide a compelling case for broader adoption. This shift supports sustainable development goals and aligns with the global push towards greener, more resilient economies.

Furthermore, the widespread adoption of digital transactions in Cyprus is expected to drive innovation within the financial sector. With the integration of advanced technologies such as blockchain and artificial intelligence, the digital financial landscape is set to become even more efficient and secure. These innovations not only enhance user experience but also contribute to environmental sustainability by further reducing the need for physical resources.

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter