FinTech Magazine - July 2022 | Page 149

Revolut
TOP 10

02

Revolut

Valuation : $ 33bn
Launched in 2014 – when it originally functioned as a global money app with a prepaid credit card – Revolut is now a leading global fintech that has launched as a bank throughout 10 Western European markets . With services currently available in 20 countries , Revolut ’ s super app now serves more than 18 million customers worldwide and has operationalised its Lithuania-based European specialised banking licence in 10 European markets .
Revolut is a British fintech company founded by Nikolay Storonsky and Vlad Yatsenko , and its rise to decacorn status has been remarkable . In November 2020 , the company was breaking even and , with a US $ 4.7bn valuation , became the UK ' s most valuable fintech company . In January 2021 , it applied for a UK banking licence while also holding a mega funding round in July of that year , raising $ 800mn , which brought the valuation up to a staggering $ 33bn – making it the most valuable UK tech startup at the time .
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