Financial technology startup Revolut Ltd. has reportedly launched a secondary sale that will value it at $75 billion.

Sources told Bloomberg today that the company’s employees can sell up to 20% of their shares for $1,381 apiece. The transaction is expected to close in the coming weeks. It’s unclear which investors are buying the shares.

Revolut’s previous secondary sale, which closed last August, was led by Coatue, D1 Capital Partners and Tiger Global. That transaction valued it at $45 billion, or $30 billion less than the latest stock sale. The Financial Times reported today that the company has experienced strong financial performance this year, which likely factored into the valuation bump.

London-based Revolut last published earrings data in April. The company disclosed that it generated a $1 billion net profit on revenue of $4 billion in 2024, up from $428 million and $2.2 billion a year earlier. Those increases were partly driven by the growth of Revolut’s installed base, which topped 50 million users last December.

Revolut provides a mobile banking app for consumers and businesses. About a quarter of the company’s 2024 revenue came from interest earned on funds deposited in customer accounts. Those accounts’ cumulative balance totaled $38 billion at the end of 2024, 66% more than a year earlier.

For consumers, Revolut offers debit cards and investment tools that can be used to trade in securities. Users may also purchase digital assets through a cryptocurrency exchange called Revolut X that the company launched last May. Revolut’s wealth management business, which includes its trading tools, nearly tripled its revenue in 2024 to $647 million.

The bank accounts that the company offers to businesses include more features. Revolut makes it possible to issue corporate credit cards to employees and create payment links for customers. Additionally, it sells a line of payment terminals that retailers can use process in-store purchases.

The company has expanded its focus beyond the financial technology market in recent years. Its lineup of consumer services includes eSIM mobile data plans geared towards travelers. For businesses, Revolut offers workforce management software that speeds up tasks such as creating job postings and filtering applications.

The company’s plan to sustain its revenue growth focuses on the lending services market. This past July, Revolut obtained a banking license in the U.K. with the goal of providing loans to local users. Around the same time, the Financial Times reported that the company was planning to launch a similar service in the U.S. by acquiring a nationally chartered bank.

Image: Revolut