is targeting a valuation exceeding $40 billion in a share sale that would cement its status as Europe’s most valuable start-up, according to three people with knowledge of the plans.
The ambitious target, if reached, would defy a difficult market for European fintech groups in the past two years. Stockholm-based Klarna, another prominent fintech, saw its valuation crash to $6.7 billion from $46 billion in a 2022 fundraising. Some venture capital investors have since marked down their stakes in Revolut.
The company slipped to a loss in its latest delayed set of results for the year 2022 as a boom in cryptocurrency trading that previously boosted profits abated. Meanwhile rising costs offset the benefits from higher customer deposits and higher rates. In 2021, it raised $800 million from investors including SoftBank’s Vision Fund 2 and Tiger Global Management.
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