Revolut's private placement valuation reaches US$115 billion, making it Europe's most valuable start-up

BlockBeats news, on October 5, according to Reuters, the private placement valuation of crypto-friendly bank Revolut has reached $115 billion, making it the most valuable startup in Europe, surpassing the British bank Barclays and France's Societe Generale. The company now has 80 million customers, close to JPMorgan Chase's 84 million and ahead of HSBC's 41 million. Revolut is applying for more market licenses to expand its business from Mexico to Australia and other regions.

Revolut will post pre-tax profits of £1.7bn in 2025, down from Barclays' £9bn but still growing rapidly. Its revenue comes from a variety of products including payments, foreign exchange and card subscriptions, rather than relying primarily on loans. As of the end of 2025, Revolut's loan scale was only 2.2 billion pounds, with a loan-to-deposit ratio of 6%, significantly lower than HSBC's 55% and Societe Generale's 86%.

Revolut still faces low revenue per customer, limited lending business scale and underutilization of its main accounts. In the U.S. market, the company has a temporary license, but will face more intense competition. Additionally, Revolut was previously fined in Lithuania for anti-money laundering deficiencies and in September mistakenly sent some customer data to hackers posing as government investigators.