Revolut secondary sale reportedly values it at $115B

Revolut’s latest valuation is being set through liquidity for employees and early shareholders—not a conventional fundraising round.

What happened

Revolut confirmed that a secondary share-sale process is underway. The transaction is reportedly being conducted at $2,017 per share, implying a valuation of about $115 billion.

A secondary sale allows existing shareholders, including employees, to sell part of their holdings to new or existing investors. Revolut does not issue new shares and therefore does not receive the sale proceeds. The process follows a secondary transaction in late 2025 that valued the company at $75 billion.

The reported price represents an increase of more than 50% in less than a year. Revolut has not confirmed the final transaction size or valuation while the process remains open, so the figure should be treated as the pricing of an ongoing sale rather than a completed company financing.

Why it matters

Secondary transactions are becoming an important release valve for mature private companies. They allow employees and early backers to realise some value without forcing a company into an IPO before management believes it is ready.

For Revolut, the price also reflects investor expectations that its banking licences, customer base and expanding product suite can support economics closer to a global financial institution than a payments app.

The bigger picture

Private technology companies are remaining private for longer while reaching valuations once associated mainly with public markets. That creates tension: private prices are established through relatively narrow transactions and do not face the same continuous scrutiny as listed shares.

Revolut’s next test is therefore not simply achieving a larger headline valuation. It must show that profitability, regulatory execution and expansion into markets such as the US can support that valuation when a broader group of investors eventually gets the opportunity to price the company.