Revolut, a British fintech company, was valued at $45 billion in a secondary share sale.

• On Friday, Revolut, a British fintech startup, announced a valuation of $45 billion in a secondary share sale with both new and existing investors.
• Revolut stated that the valuation of the company reflects its recent financial performance and progress in achieving strategic objectives.
• Revolut received a banking license in the U.K. with restrictions, and now its valuation has been determined.

On Friday, Revolut, a British fintech startup, announced a valuation of $45 billion in a secondary share sale with both existing and new investors.

Revolut stated that the valuation reflects the company's recent financial performance and progress in achieving its strategic objectives.

The round was led by Coatue, D1 Capital Partners, and Tiger Global, who were the existing investors, without disclosing the total value of the shares sold.

The $45 billion transaction significantly boosts the company's valuation from the $33 billion recorded in July 2021.

"Nik Storonsky, CEO of Revolut, stated, "We are thrilled to offer our employees the chance to experience the advantages of our company's collective triumph, and we are equally thrilled to collaborate with several new investors who share our vision as we continue to reshape the banking industry.""

Revolut received a banking license with restrictions in the U.K. after a three-year wait, and now faces valuation just weeks later.

The delays were caused by a number of problems, one of which was Revolut's share structure not aligning with the guidelines set by the U.K.'s Prudential Regulation Authority. This issue has since been resolved.

Revolut is authorized to accept customer deposits and offer financial products such as loans and credit cards. The company plans to establish a banking infrastructure in the U.K. prior to the official launch.