Revolut Valued at $45B, Challenges Major Banks

Revolut's Rise in the Fintech Industry
Revolut, founded by Nik Storonsky, has achieved an impressive valuation of $45 billion, marking a significant milestone in the financial technology sector. This valuation not only elevates Revolut as the most valuable startup in Europe but also surpasses the worth of traditional banks like Barclays and NatWest. The company's recent success follows Storonsky's acquisition of a UK banking license, which took a determined three-year pursuit. This landmark achievement positions Revolut to expand into traditional banking sectors, such as mortgages, challenging established institutions.