A Revolution The investor would estimate that the value of FinTech has increased by 45% since last year.
An investment trust overseen by Schroders has increased his stake in the British company, up from 7.88 million pounds ($9.75 million) as of December 31, compared to 5.44 million pounds ($6.75 million) a year earlier, Bloomberg News reported Monday 15 april.
The Bloomberg report notes that while Schroders’ stake is small, it still implies that Revolut’s valuation has increased to $25.7 billion, up from $17.7 billion last year, but below the valuation of $33 billion reached by the company in a 2021 funding round.
According to the report, Schroders believes Revolut has made “solid progress” over the last year and cited the international expansion of its services as one of the reasons it considered participation.
Last year, a venture capital firm Companies dissolved has reduced Revolut’s valuation by 40%, with CEO Martin Davis saying he still has confidence in FinTech and that Revolut’s continued efforts to obtain a UK banking license this led to markdown.
“But the reality is we all know there is evidence that the market wants to see around revenue growth for 2022, in order to get clean books for 2022,” Davis said in an interview with City AM . “They want to see visibility around profitabilitythey want to see visibility around the UK banking license”
Revolut recently began offering phone plans to UK customers, which include eSIMs (electronic versions of a phone’s SIM card) and global data plans to allow users to move around and stay connected without racking up charges unexpected roaming.
“Our ambition is really to be the super financial app,” Tara Massoudi, general manager of premium products at Revolut, told CNBC. “It’s definitely in that direction.”
And last month, Francesca Carlesithe CEO of Revolut in the United Kingdom, warned that London risk of losing in Paris and New York in the race to attract new startups, but nevertheless indicated that the British capital was still in the running to host Revolut’s possible initial public offering (IPO).
“The UK is our country and it’s also where a lot of our investors come from,” Carlesi told Bloomberg. “We know that companies always benefit from showing where their biggest market is. »
But for now, she added, making it public is not her goal. Carlesi said she instead wanted to help Revolut navigate issues around accounts, controls management and culture, as the company enters its third year of trying to obtain its UK banking license.
