Is Revolut Worth $40 Billion?

Is Revolut Worth $40 Billion?
Is Revolut Worth $40 Billion?

Hey FinTech Fanatic!

Revolut has hired bankers to help it sell about $500 million worth of existing equity at a $๐Ÿฐ๐Ÿฌ ๐—ฏ๐—ถ๐—น๐—น๐—ถ๐—ผ๐—ป ๐˜ƒ๐—ฎ๐—น๐˜‚๐—ฎ๐˜๐—ถ๐—ผ๐—ป, up from the $33 billion valuation it last garnered in a 2021 fundraising round.

The company โ€” which has spent years trying to secure a banking license from UK regulators that would allow it to expand into more services in its home market โ€” has benefited as new customers flocked to its app in recent years (40 million customers).

Revolut said its revenue for 2022 jumped 45% to ยฃ922.5 million ($1.17 billion).

The company hasnโ€™t reported results for last year yet but had previously forecast that revenue for 2023 would be roughly ยฃ2 billion.

Now my question to you is: Do you think Revolut is worth $40 billion?

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๐Ÿšจ The EU has charged Apple with failing to comply with a new digital-competition law, alleging the iPhone makerโ€™s App Store isnโ€™t allowing developers to freely direct customers to alternative ways to make purchases. Read on 

๐Ÿ“œ Hereโ€™s an exclusive inside look at Revolutโ€™s future Global HQ at the top of the YY London building, spanning 4 floors and over 100,000 square feet. Click here to watch


๐Ÿ“Š What is ๐—ฃ๐—ฎ๐˜† ๐—ฏ๐˜† ๐—•๐—ฎ๐—ป๐—ธ? And what are the benefits? 

Let me connect the dots for you:

What is Pay by Bank? What Are the Benefits?


๐Ÿ‡ฟ๐Ÿ‡ฆ Mama Money partners with Access Bank and Paymentology to launch a new WhatsApp-Powered bank card. Through its integration with WhatsApp, the Mama Money Card allows you to transfer payments internationally, buy electricity and airtime, download bank statements, check your balance and manage your account using the data-friendly messaging platform.

๐Ÿ‡ฎ๐Ÿ‡ณ ixigo expands partnership with PhonePe, adds bus and flight bookings. The company said the partnership will enable over 54 Cr PhonePe users to experience more comprehensive travel booking and utility services for flights, trains and buses. PhonePe users will benefit from advanced features and value-added services from the ixigo Group.

๐Ÿ‡ฐ๐Ÿ‡ช Tala eyes global market. Tala, a FinTech from Kenya has announced plans to go after the 10 trillion US dollar global FinTech market, defining it as the global majority population which represents 52 per cent of the worldโ€™s population. Continue reading

๐Ÿ‡ญ๐Ÿ‡ฐ WeLab, a pan-Asian FinTech platform, announced strategic actions in Southeast Asia markets and Hong Kong to propel growth, scale and profitability. These initiatives are fortifying a robust foundation to support WeLabโ€™s accelerated growth. 


๐Ÿ‡ช๐Ÿ‡ฌ The value of Egypt's electronic payment and collection services reached EGP 2.50 trillion in the first 11 months of the fiscal year 2023/2024, up from EGP 2.10 trillion in the same period a year earlier, said Minister of Finance Mohamed Maait

๐Ÿ‡จ๐Ÿ‡ฆ PayDo expands across Canada with Gigadat. This collaboration aims to expand PayDo's innovative payment services across Canada, leveraging Gigadat's extensive experience and infrastructure in the FinTech sector. 

๐Ÿ‡ฆ๐Ÿ‡บ Tyro Payments has partnered with StoreConnect, enabling integrated payments for a point-of-sale solution built on Salesforce for small to medium-sized businesses. This integration includes an ecommerce website, POS terminal, cash drawer, and receipt printer.


๐Ÿ‡ธ๐Ÿ‡ช Swedish banks in race to build new technical infrastructure for Bankgirot to meet EU regulations. The Swedish Financial Supervisory Authority (SFSA) has issued an injunction to SEB and the other Swedish owner banks of Bankgirot to ensure they fulfill the requirements of the EUโ€™s Wire Transfer Regulation (WTR) before 31 December 2026.

๐Ÿ‡ฆ๐Ÿ‡ช Euronet and FinTech Galaxy partnership leads to Banking As A Service offering for banks, FinTechs and merchants in the Middle East and Africa. This new initiative focuses on increasing financial inclusion by incorporating the flexibility of open banking for more efficient account-based payments.

๐Ÿ‡บ๐Ÿ‡ธ Bank of America is doubling down on innovation to drive further adoption of its digital-banking mobile app for businesses, and turning to its clients for input on enhancing user experience and feature functionality. The bankโ€™s CashPro mobile app has been granted 16 patents and has 21 more pending, as of June 20. 


๐Ÿ‡ฌ๐Ÿ‡ง UK-based FinTech FreeBnk has tapped E Money Network, a MiCA-compliant modular blockchain built for tokenising real-world assets, to issue international bank account numbers (IBANs). This strategic collaboration enhances FreeBnk by integrating traditional banking cornerstones with DeFi features.

Kraken MTF and Copper forge alliance for institutional crypto trading. The collaboration aims to offer off-venue settlement services tailored for institutional clients. This integration empowers institutions to manage risk effectively and hedge positions in a derivatives market that operates continuously throughout the year.


๐Ÿ’ฐ Last week we saw 5 official FinTech deals in Europe for a total amount of 90.6mโ‚ฌ raised with 2 deals in France, 1 deal in the UK, 1 deal in Germany and 1 deal in Austria. Read the complete BlackFin Tech article here

Weekly Fundraising Activity - BlackFin Tech

๐Ÿ‡ฌ๐Ÿ‡ง Curve announced a strategic investment by Samsung Next. This new investment takes Curve's total raised funds to over $250 million and will be used to further enhance its products and offerings to financial consumers. Read the full piece here

๐Ÿ‡ฒ๐Ÿ‡พ Paywatch, an earned-wage access (EWA) service provider in Asia, has secured US$30 million (approximately RM141 million) in funding. Paywatch offers an innovative, debt-free EWA solution, allowing employees to access a portion of their earned wages in real time before the end of their payroll cycle.

๐Ÿ‡บ๐Ÿ‡ธ Verituity raises $18.8m for payout platform. This latest infusion of capital will accelerate the companyโ€™s growth in banking and insurance and Verituityโ€™s expansion into new markets, including mortgage servicing and energy. Read on


๐Ÿ‡ธ๐Ÿ‡ช Klarna announced the divestment of Klarna Checkout (KCO). The buyer is a consortium of investors led by Kamjar Hajabdolahi, CEO & Founding Partner at BLQ Invest in a $๐Ÿฑ๐Ÿฎ๐Ÿฌ ๐— ๐—ถ๐—น๐—น๐—ถ๐—ผ๐—ป deal. This strategic move will allow KCO to continue its evolution and enhancement as an industry-leading product under new ownership.


๐Ÿ‡บ๐Ÿ‡ธ MoneyLion appoints veteran Pinterest and Google leader Jon Kaplan as Chief Revenue Officer. In this role, Kaplan will lead MoneyLionโ€™s go-to-market strategy, with a focus on expanding the market share of the firmโ€™s leading digital financial ecosystem.

๐Ÿ‡ฌ๐Ÿ‡ง Moneyhub, a data and payments platform announces that Anne de Kerckhove will join the Companyโ€™s Board as Chair. Anne is an experienced international executive with over 20 years leading some of the fastest-growing and scaling B2B and B2C technology, data, media, e-commerce and entertainment companies in Europe.

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