UK fintech group Revolut has had its implied valuation increased by 45% to $25.7 billion (£20.6 billion) by minor shareholder Schroders, Bloomberg has reported.
A fund managed by Schroders wrote up its stake in the unlisted British payment disruptor from £5.44 million to £7.88 million.
Though only a minor stakeholder, it is a shot of good news as Revolut aims to reclaim its peak $33 billion valuation achieved in a major funding round in 2021.
The Schroders fund said Revolut had made “solid progress” on its expansion plans despite higher interest rates impacting high-growth companies in the past two years.
In March, Revolut boss Francesca Carlesi left the door open for a debut on the London Stock Exchange, though no concrete plans have been announced.
In the latest Companies House filings, Revolut declared £744 million worth of revenues in the year ending 31 December 2022 on an 82% gross profit margin. Losses before tax exceeded £23 million.