Schroders ups Revolut valuation by 45%: Bloomberg

The news: UK fintech Revolut’s valuation has seen a 45% raise by its shareholder, Schroders, which disclosed a £2.45 million ($4.72 million) writeup for its Revolut holding on Monday.

The numbers: Schroders’ writeup brought the valuation of the stake held by Schroders Capital Global Innovation Trust to £7.88 million as of December 31, from £5.44 million a year earlier. The stake gives Revolut a new and improved valuation of USD25.7 billion, up from USD17.7 billion last year.

The context: The raised valuation adds to hopes that the fintech sector is beginning to rebound, as the past 12 months has seen fintech funding decline as much as 70%, and valuations have struggled to come close to previous peaks. Revolut, like many fintechs, received its highest valuation of USD33 billion during a funding round in 2021.

The fintech’s delayed 2022 accounts published in December show that its revenue has grown to over USD1 billion, and is adding around one million new customers each month. The fintech is still awaiting a UK banking licence that would allow it to expand its services in the country.