Revolut now bigger than Barclays: Finance app worth £57bn ahead of possible stock market listing
Revolut has seen its value shoot up to nearly £60billion ahead of a possible stock market listing.The London-based finance app sold shares to investors in a deal that valued it at $75billion (£57billion) – a 66 per cent jump from $45billion last year.The valuation, albeit secured in private rather than public markets, makes the ten-year-old business worth more than many publicly listed banks including Britain’s Barclays, France’s Societe Generale and Germany’s Deutsche Bank.Founded by chief executive Nikolay Storonsky and chief technology officer Vlad Yatsenko, Revolut has amassed more than 65m customers and its profits surged 149 per cent to £1.1billion last year.Storonsky has said his number one priority is to get Revolut a full banking licence in the UK, which still eludes the company even after many years of trying. Licence fight: Revolut, led by chief exec Nikolay Storonsky (pictured), sold shares to investors in a deal that valued it at $75bn – a 66% jump from $45bn last yearDIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Revolut now bigger than Barclays: Finance app worth £57bn ahead of possible stock market listing
