Revolut said on November 4, 2026 that its latest fundraising process established a company valuation of $115 billion. It also said eligible employees were given an opportunity to sell shares. Those facts answer different questions: the valuation is the implied value of the company, while the sale opportunity describes who could turn some of their holdings into cash.
Compare valuations on their own terms
Revolut announced a $75 billion valuation after a share sale in November 2025. The new figure is $40 billion higher, an increase of about 53% from the previous announced valuation. That comparison describes two transactions. It does not mean that $40 billion was paid into the company or that any employee received that percentage return.
Ask who sold the shares
In a primary sale, a company issues new shares and receives the proceeds. In a secondary sale, an existing shareholder sells shares and receives the proceeds. A transaction can include both. Revolut’s announcement identifies investors and describes the employee sale opportunity, but it does not disclose total proceeds or a breakdown between company and selling shareholders. The valuation alone cannot fill that gap.
Use a small example to read the headline
Imagine a private company with one million shares on a simple share-count basis. If an existing shareholder sells 10,000 shares at $10 each, the price implies a $10 million company valuation under that simplified assumption. The seller receives $100,000 before fees or taxes, and the company receives nothing from that sale. The example is fictional and uses none of Revolut’s actual deal terms.