British fintech Revolut has started allowing employees to sell shares at a $75 billion valuation, marking a significant jump from last year's $45 billion price tag as the company weighs acquisition opportunities in the United States.

Revolut Launches $75 Billion Secondary Share Sale as Growth Plans Take Shape

The secondary share sale values each share at $1,381.06, according to an internal memo seen by Bloomberg. Staff can sell up to 20% of their holdings in the transaction, which has already attracted interest from both new and existing investors.

The latest valuation puts Revolut above the market capitalization of traditional lender Barclays, though the comparison involves private versus public market pricing. For Revolut, the sale continues a pattern of using secondary transactions to provide employee liquidity while avoiding the public markets.

“As part of our commitment to our employees, we regularly provide opportunities for them to gain liquidity ,” a Revolut spokesperson said. “An employee secondary share sale is currently in process, and we won't be commenting further until it is complete.”

US Banking License in Focus

The share sale comes as Revolut explores its next major expansion push. The company has been talking to investment bankers about potentially acquiring a US lender to fast-track its American growth, rather than going through the lengthy process of applying for its own banking license.

Revolut shelved a US banking license application in 2021 and has since operated through partner banks. Now, with President Donald Trump's administration signaling a more accommodating stance toward financial deregulation, the company sees an opening.

The fintech plans to launch US savings products in the coming weeks and has ramped up marketing spending, including offering free subway rides to New Yorkers. Getting a banking license through acquisition would let Revolut offer loans and other services directly to American customers.

The US push reflects lessons learned from Revolut's protracted UK licensing process. The company spent more than three years securing its British banking permit and remains under strict regulatory oversight even now.

Chief Executive Nik Storonsky acknowledged the misstep, saying, “For a long time I wanted to be as less regulated as possible, it was the completely wrong decision.”

Global Footprint and Compliance Issues

Revolut's global ambitions haven't been without challenges. Australian financial crimes agency AUSTRAC fined the company's local unit AU$187,800 for late submission of compliance reports under anti-money laundering laws.

The penalty highlights the compliance burden facing fintechs as they expand across multiple jurisdictions. Revolut self-reported the violations and cooperated with regulators, according to AUSTRAC.

“These are the real-life consequences of failures to report,” said AUSTRAC CEO Brendan Thomas. “Remittance services are attractive to money launderers and other types of criminals because they can move funds cheaply and quickly across borders.”

The Australian fine represents a relatively small cost for Revolut, which reported £3.1 billion in revenue last year, up 72%. The company now serves more than 60 million customers globally, surpassing HSBC's customer count in 2024.

Revolut has secured banking licenses in Mexico and Lithuania and is pursuing permits in France and New Zealand. The company has also made acquisitions, including Argentina's Banco Cetelem from BNP Paribas as part of its Latin American expansion.

Fintech Liquidity Trends

The secondary sale reflects broader trends in the private fintech market. With IPO activity remaining sluggish, companies like Stripe have turned to employee share sales to provide liquidity. Stripe completed a similar transaction in February at a $91.5 billion valuation.

Last year's Revolut secondary sale was led by US investors Coatue, D1 Capital Partners and Tiger Global. CEO Storonsky sold about $250 million of his stake in that roughly $500 million transaction.

Molten Ventures, which holds Revolut as its largest position at just over 10% of its portfolio, saw its shares gain as much as 5.7% after news of the secondary sale broke.

The latest valuation comes as European fintechs show renewed confidence. Sweden's Klarna has been considering resuming plans for a New York IPO, signaling improved investor sentiment toward the sector.

For Revolut, the $75 billion price tag represents validation of its rapid growth strategy, even as regulatory challenges persist across its global operations.