It is hard to see how hopes of future growth justify the challenger bank being worth $18bn – not least as it made only £26m in 2021
A reduction of $15bn in the value of Revolut, the would-be “Amazon of banking”, sounds enormous until you remember the starting point.
Back in 2021, the last time the privately owned company’s valuation created a stir, the valuation was $33bn – in that case supported by a hard transaction in which SoftBank and Tiger Global Management, two established backers, led a $800m round of fresh investment.
