Revolut Achieves $75 Billion Valuation with Nvidia’s Backing
Fintech giant Revolut, a leading European player with a global reach of over 65 million customers, has solidified its position in the financial landscape with a new valuation of $75 billion following a successful share sale. This significant milestone is further boosted by a strategic investment from NVentures, Nvidia’s venture capital arm, signaling a deepening partnership focused on leveraging Artificial Intelligence. This collaboration could potentially benefit African markets as Revolut expands its reach and incorporates AI-driven financial solutions.
Strong Financial Performance Fuels Growth
Revolut’s impressive valuation is underpinned by robust financial performance and substantial business growth. The company reported a remarkable 72% increase in revenue for 2024, reaching $4.0 billion. Furthermore, profit before tax saw an even more significant surge, climbing by 149% to $1.4 billion. According to Nik Storonsky, CEO and Co-founder of Revolut, this achievement underscores the company’s dedication to building a truly global bank, aiming to serve 100 million customers across 100 countries. Storonsky also acknowledged the vital role of his team’s unwavering commitment and belief in establishing a leading global force in both finance and technology originating from Europe.
Revolut’s success story, now amplified by Nvidia’s investment, highlights the potential for fintech innovation to disrupt traditional financial models and create new opportunities, particularly in emerging markets like Africa. The integration of AI, facilitated by this partnership, could lead to more personalized and efficient financial services, ultimately empowering individuals and businesses across the continent.
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