Shares in Revolut were traded at a £33 billion valuation in a secondary market transaction that saw Coatue Management and D1 Capital Partners acquire stakes from early employees and seed investors. The deal, which totalled approximately £450 million in share purchases, represents a dramatic recovery from the £18 billion valuation attached to the company during its last primary fundraise in 2021. Sources close to the transaction said demand from buyers exceeded available supply by a factor of three, underscoring the depth of institutional interest in the super-app.

The secondary sale comes amid mounting anticipation that Revolut will pursue an initial public offering on the London Stock Exchange in the first half of 2026. The company secured its long-awaited UK banking licence from the Prudential Regulation Authority in late 2024, removing a key obstacle that had previously dampened investor sentiment. Revolut now serves over 45 million customers globally and generated revenues exceeding £2.5 billion in its most recent financial year, with net profit margins improving to approximately 12 percent.

A London listing for Revolut would represent a significant coup for the UK capital markets, which have struggled to attract major technology IPOs in recent years. Chancellor Rachel Reeves has publicly courted the company, offering regulatory concessions and tax incentives for fintech firms that choose to list domestically. Market analysts at Morgan Stanley estimate that a Revolut IPO could raise between £3 billion and £5 billion in primary proceeds, making it the largest London technology listing since the Deliveroo flotation in 2021.