Revolut said on Wednesday it completed a funding round at a $115 billion valuation. This figure shows a 50% increase from the share sale last year. Led by firms like T. Rowe Price Associates, the deal means private investors now value the 11-year-old business more than many publicly listed banks.

Synopsis

The transaction, which Revolut said was led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford, means private market investors value the 11-year-old business more highly than many publicly listed banks.

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British bank Revolut said on Wednesday it had completed a funding round at a $115 billion valuation, a more than 50% increase on the $75 billion valuation reached in a share sale last year.

The transaction, which Revolut said was led by Glade Brook Capital Partners, Coatue, Durable Capital Partners, T. Rowe Price Associates and Baillie Gifford, means private market investors value the 11-year-old business more highly than many publicly listed banks.

The funding round was first reported earlier this year.