Revolut Valuation: Is $10 billion on tap?
A Revolut valuation of $10 billion would put it in the league of banks such as Barclays.
But that’s what Simon Cook — investor and board member of the digital challenger bank and fintech poster child — predicts could soon happen.
With plans afoot to soon raise $500 million at a valuation of over $ 5 billion, half that target may be done and dusted this year itself.
Revolut has already garnered 6 million customers in a mere four years. Its mobile payment and money transfer app and debit cards have proved hugely popular with younger, more tech-savvy customers.
Startups such as N26, Uipath, Transferwise, and Revolut are likely to clock £500 million in revenues within a short span of five years, according to Cook.
“This means we are building real $10 billion companies in Europe for the first time,” he adds.
Indeed, given that Barclays has 25 million customers, ambitious startups such as N26 and Revolut could be snapping at its heels in next to no time.
The Revolut valuation will receive a boost from plans to enter the commission-free trading space. Following Robinhood’s botched efforts to launch savings and checkings accounts, Revolut responded by stepping into the online brokerage space.
Revolut will allow users to purchase as little as $1 in fractional shares for stocks like Apple and Beyond Meat. The company claims it will be the first firm to bring fractional shares of U.S. stocks to Europe.
The effort is part of a broader plan to attract millennial users to its platforms. Investors of Revolut include DST Global, Greyhound Capital, Draper Esprit, Lakestar, and Index Ventures.
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