Revolut valued at $115 billion, ranks among Europe's most valuable startups

On October 5, Reuters reported that Revolut has become Europe's most valuable startup, with a current private market valuation of $115 billion, surpassing the UK's Barclays Bank and France's Société Générale. Pre-tax profit for 2025 reached £1.7 billion (approximately $2.2 billion), demonstrating rapid year-on-year growth. The company currently serves 80 million customers and is actively expanding into markets such as Mexico and Australia while continuously securing new licenses.

However, Revolut still faces multiple challenges: revenue per customer is far lower than that of traditional banks, and its loan portfolio remains relatively small (with a loan-to-deposit ratio of just 6%, significantly below HSBC's 55%); it faces intense competition in the United States; additionally, the company was previously fined in Lithuania for anti-money laundering violations and recently experienced a customer data breach. Analysts point out that increasing primary account usage and expanding its lending operations will be Revolut's core focus in the next phase.