Why We’re Doubling Down on Revolut

There is over $20T of public market cap in global financial services. While many fintechs have targeted opportunities within specific regions or product categories – trading, deposits, lending, savings, and payments – few have attempted to build a truly global business. Regulatory and licensing hurdles, technological limitations, and organizational bandwidth have all made international scale elusive – even for highly-skilled teams.

Coatue sees that Revolut is charting a new path. They are building the world’s first global financial super-app, which is now operating in 39 countries and serves over 65 million users. What began as a travel card designed to avoid high FX fees has evolved into a multi-product financial platform that is redefining what modern banking looks like for consumers and businesses.

At Coatue, our favorite businesses to invest in are the ones that execute relentlessly. We believe Revolut exemplifies this, and it’s why their P&L now reflects a growing roster of $100M+ revenue lines. The team’s ability to experiment (efficiently!), ship product, iterate quickly, and organize around small, high-velocity teams has been a defining advantage. The same playbook that has turned Revolut into a consumer banking juggernaut is also powering the rise of Revolut Business, which is disrupting SMB banking across Europe and beyond.

We believe Revolut is an expression of a simple but powerful thesis: traditional banks struggle to compete at software speed. Revolut is aiming to deliver a better – and improving – product at a lower cost: more rewards, bundled subscriptions, FX savings, multi-currency accounts, frictionless payments, trading & wealth, with a horizon that seems to widen every day.

In 2024, we led Revolut’s funding round at a $45B valuation. Today, we’re thrilled to announce that we’re doubling down and leading Revolut’s latest fundraising round. We’re excited to be deepening our partnership with Nik, Vlad, and the entire Revolut team as they march relentlessly toward their goal of becoming the #1 bank in 100 countries with 100M users and $100B of revenue!