Revolut valued at $115bn after first funding round since winning UK banking licence

Revolut, the British-founded digital bank, says its valuation has risen by more than half to $115 billion after a new funding round, its first since winning its long-awaited UK banking licence.

The deal was led by the investors Glade Brook Capital Partners, Coatue and Durable Capital Partners, the company confirmed on Wednesday 4 November.

From app to bank

Revolut received final sign-off from the UK's banking regulator in March, giving it permission to begin lending in its home market. Over the past year it has also been authorised by the European Central Bank, cleared a significant hurdle towards US national bank charters, and this week announced a new licence in New Zealand.

The company's profits rose 57% to £1.7 billion in 2025, as its customer base grew to 68.3 million. It says it has since passed 80 million customers worldwide.

Staff share in the success

Revolut says the round again gives its employees a chance to share in the value they have helped create. Nik Storonsky, Revolut's chief executive, said: "Every bank we launch means more people get a better way to manage their money, wherever they live. Our team makes that happen, and employee ownership has been central to our culture from day one."

"That's why we've once again given them the chance to share in the value they've created, as we work towards our next milestone of serving 100 million customers."

London or New York?

The new valuation is likely to fuel speculation about a stock market listing. Mr Storonsky said earlier this year that a public debut was "two years away", and he has said he "prefers" the US market, though the company has considered a dual listing in New York and London. A London listing would be a significant boost for the UK's stock market, which has lost several big names to New York in recent years.

Why it matters

Revolut is one of the UK's biggest technology success stories, founded in London in 2015. Its growth shows the strength of Britain's financial technology sector, which also has a growing presence in Birmingham, where firms such as the business lender Lovey have expanded this year.

For customers, a full UK banking licence means Revolut can offer lending products such as loans and overdrafts under UK banking rules, and that eligible deposits are protected by the Financial Services Compensation Scheme up to the standard limit. As with any financial product, it is worth comparing options and checking the protections that apply before you sign up.