Revolut investor revalues shares upward by 45%

Schroders Capital Global Innovation Trust revalued its shares of Revolut upward by 45%, to about $25.7 billion, at the end of 2023, its annual report shows.

Why it matters: Investors don't think the out-of-favor neobank model is dead.

Context: At its peak, Revolut was valued at $33 billion. And it is the most valuable neobank in the Western hemisphere — even by Schroders' calculations.

• Monzo in March raised at a $5 billion valuation, up from $4.5 billion in 2024.

Details: Schroders, as was first reported by Bloomberg, raised the valuation compared with a year prior as Revolut expects to grow revenue by over 80%, to $2 billion, in 2023.

Of note: Though not as ebullient in its evaluation of the company, TriplePoint Venture Growth — another Revolut investor — valued the company at about $23 billion at the end of 2023.

• That was down about 18% from the same period a year earlier.
• In a March earnings call, TriplePoint CIO Sajal Srivastava attributed the change to lower valuation in public market fintechs, adding: "We now generally utilize current market comparables and multiples to value them based on available actual performance, rather than projected performance."