Revolut Forecasts Doubling Revenue To 2b By 2023
- The adjustment reflects confidence in Revolut’s growth despite a global downturn in fintech investment.
- Revolut’s international expansion and new features enhance its market position.
Schroders, a minor shareholder in Revolut, recently adjusted its valuation of the London-based fintech company, suggesting a 45% increase from the previous year, bringing its estimated worth to US$25.7 billion. This adjustment comes despite a general downturn in fintech investments, which saw global funding drop to a five-year low in 2023. Schroders attributes this revaluation to Revolut’s significant progress over the past year, including its ambitious international expansion efforts.
In detail, Schroders Plc’s investment trust reported a substantial write-up in its annual report, increasing the value of its Revolut stake from £5.44 million to £7.88 million as of the end of December. This reassessment reflects the neobank’s robust performance amidst a challenging financial environment marked by rising interest rates impacting many growth-focused finance firms.
Revolut continues to expand its customer base, adding approximately one million new users each month. The company also recently introduced an advanced AI-driven scam detection feature to protect its customers from financial fraud. This innovation underlines Revolut’s ongoing efforts to enhance user security and trust, further bolstering its market standing.
While Revolut did not comment on the Schroders valuation, the firm’s positive trajectory and continued customer growth highlight its resilience and potential for sustained success in the competitive fintech landscape. The company is also awaiting the final decision on its UK banking license, which would significantly expand its service offerings in its domestic market.
