Revolut’s $40 Billion Valuation Will Outpace Banks

British fintech Revolut is allegedly eyeing a $40 billion valuation in its new $500 million existing shares sale, surpassing its previous $33 billion mark. This growth, if confirmed, could elevate Revolut above traditional banks and its fintech rivals Wise, Monzo, and Starling. Revolut has expanded its services to include trading instruments and holds a strong global presence, with 40 million customers. The company also aims for a UK banking license and forecasts $2 billion revenue in 2023, increasing from $1.1 billion in 2022. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: Finance Magnates | Financial and business news – FinTech