Revolut has reached a $75bn valuation in its latest share sale, a sharp rise from the $45bn mark set last year, as global investors continue to back the fintech’s international expansion strategy, according to a report by Bloomberg. 

The round was led by Coatue, Greenoaks, Dragoneer, and Fidelity, with additional participation from NVentures, Andreessen Horowitz, Franklin Templeton, and accounts advised by T. Rowe Price.

The transaction included a secondary element that allowed employees to sell shares, marking the fifth time staff have been offered liquidity.

“The level of investor interest and our new valuation reflect the strength of our business model, which is delivering both rapid growth and strong profitability,” said Victor Stinga, Revolut’s Chief Financial Officer.

Revolut plans to invest $13bn as it targets 100m customers worldwide, up from about 65m today. The company intends to enter 30 new markets across major regions while securing the necessary regulatory approvals. It is also continuing to pursue a full UK banking licence, a long-term strategic priority.

Revolut declined to disclose the size of the raise in this transaction, though Bloomberg previously reported that the company and its backers were in discussions to raise around $3bn across primary and secondary components.

The valuation cements Revolut’s position as Europe’s most valuable startup as it expands its offering across checking and savings accounts, international transfers, cryptocurrency trading, stock trading, bill payments, and budgeting tools.

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